In January, retail sales expanded a seasonally- and working-day adjusted 0.3% over the same month last year. The expansion marked a sharp deceleration compared to the revised 2.5% increase observed in December (previously reported: +2.3% year-on-year) and represented the slowest pace since March 2013. According to the statistical office, the decrease in sales of non-food items compared to the previous month, offset the increase in sales of food, beverages and tobacco. On a monthly basis, retail sales fell a seasonally-adjusted 1.8% in January, which followed the 0.8% decrease observed in December. Annual average growth in retail sales fell from 1.9% in December to 1.7% in January. Panelists polled by FocusEconomics expect private consumption to expand 1.8% in 2014, which is unchanged from last month's projection. For 2015, the panel expects private consumption to increase 2.0%.
Retail sales decelerate in January
March 7, 2014
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Switzerland Retail Chart
Note: Year-on-year and annual average variation of retail sales in %.
Source: Swiss Federal Statistics Office (BFS) and FocusEconomics calculations.
Switzerland Economic News
October 6, 2016
In September, consumer prices increased 0.1% from the previous month, just under market expectations of 0.2%, in a timid rebound from August’s 0.1% decrease.
October 3, 2016
In August, retail sales contracted a seasonally- and working-day adjusted 3.0% over the same month last year.
October 3, 2016
In September, the manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch came in at 53.2 points, beating August’s 51.0 points.
September 30, 2016
Switzerland’s KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—edged up from 99.7 points in August to 101.3 points in September.
September 15, 2016
At its 15 September meeting, the Swiss National Bank (SNB) decided to maintain the target range for the three-month Libor at between minus 1.25% and minus 0.25%, which met market expectations.