Switzerland Retail


Retail sales accelerate in October

In October, retail sales increased a seasonally and working-day adjusted 1.2% over the same month last year. The print came in above the 1.0% expansion observed in September, but fell short of market expectations of a 2.1% increase. The slight improvement came against a backdrop of stronger growth in sales of non-food items, while sales of food, beverages and tobacco contracted compared to the previous month.

On a sequential basis, retail sales fell a seasonally-adjusted 0.1% in October, which was an improvement compared to the 0.6% decrease observed in September. Meanwhile, the trend continues to point downward, with annual average growth in retail sales inching down from 2.1% in September to 2.0% in October.

Panelists polled by FocusEconomics expect private consumption to expand 2.4% this year, which is unchanged from last month's projection. For 2014, the panel expects private consumption to increase 1.8%, which is also unchanged from last month's forecast.

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Switzerland Retail Chart

Switzerland Retail October 2013

Note: Year-on-year and annual average variation of retail sales in %.
Source: Swiss Federal Statistics Office (BFS) and FocusEconomics calculations.

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