In September, retail sales expanded 5.4% over the same month last year, which was below the revised 6.0% increase recorded in August (previously reported: +5.9% year-on-year) but overshot market expectations that had seen retail sales increasing 4.2%. The deceleration was broad based, with both sales of non-food items as well as of food, beverages and tobacco items recording slower growth. A month-on-month comparison confirms the deterioration suggested by the annual figures, as retail sales expanded a seasonally adjusted 0.3% in September, which was half the 0.6% rise tallied in August. The trend, however, continues its upward trajectory, with annual average growth in retail sales rising from 2.3% in August to 2.9% in September.
Retail sales slow somewhat in September
November 1, 2012
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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.