Switzerland: Retail sales bounce back in August
October 4, 2021
Retail sales expanded 0.5% year-on-year in calendar-adjusted terms in August (July: -2.3% c.a. yoy). The notable rebound was largely driven by less pronounced falls in food, beverages, and tobacco and household equipment sales.
On a monthly basis, retail sales grew 1.1% in seasonally-adjusted terms in August, contrasting July’s 2.6% fall and marking the best result since March. Meanwhile, annual average retail sales growth fell to 5.3% in August (July: +5.6%).
Author: Oliver Reynolds, Economist