Switzerland Retail August 2016


Retail sales fall at a sharper rate in August

In August, retail sales contracted a seasonally- and working-day adjusted 3.0% over the same month last year. The reading came in below the 2.7% decline seen in July. According to the Federal Statistics Office, August’s figure was driven by a sharp decrease in sales in the non-food sector.

On a sequential basis, retail sales adjusted for seasonal factors decreased 0.6% in August, which followed the flat reading recorded in July. The annual average variation in retail sales declined from a 1.7% contraction in July to a 1.8% decrease in August, which marked the lowest level on record.

Panelists polled by FocusEconomics expect private consumption to expand 1.2% in 2016, which is down 0.1 percentage points from last month’s projection. For 2017, the panel expects private consumption to increase 1.3%.

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Switzerland Retail Chart

Switzerland Retail August 2016 0

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

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