Switzerland Retail


Retail sales contract in November at fastest pace in over three years

In November, retail sales contracted a seasonally- and working-day adjusted 1.2% over the same month of the previous year. The reading contrasted the revised 0.6% expansion registered in October (previously reported: +0.3% year-on-year) and marked the steepest fall in more than three years. Moreover, the print undershot the flat reading the markets had expected. According to the Federal Statistics Office, November’s plunge reflected lower sales of both food items and non-food items.

On a sequential basis, retail sales adjusted for seasonal factors rose 0.2% in November over the previous month. The reading came in slightly below the 0.3% rise observed in October.

Annual average growth in retail sales fell from 1.5% October to 1.0% in November.

Panelists polled by FocusEconomics expect private consumption to expand 1.8% in 2015, which is unchanged from last month’s projection. For 2016, the panel expects private consumption to increase 1.9%.

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Switzerland Retail Chart

Switzerland Retail November 2014 0

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

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