Switzerland: Retail sales growth slows in October
December 2, 2021
Retail sales increased 1.2% year-on-year in calendar-adjusted terms in October (September: +2.6% c.a. yoy). October's slowdown was largely due to a deterioration in food, beverages, and tobacco sales. In addition, household equipment sales fell heavily.
On a monthly basis, retail sales rose 0.7% in seasonally-adjusted terms in October, which was better than September’s 0.1% uptick. Meanwhile, the trend pointed down, with the annual average growth of retail sales coming in at plus 5.0% in October, down from September's 5.3% reading.
Author: Oliver Reynolds, Economist