Switzerland Retail June 2016


Retail sales suffer record drop in June

In June, retail sales contracted a seasonally- and working-day adjusted 3.9% over the same month last year. The reading came in below the 1.7% decline seen in May and represented the sharpest drop on record. Market analysts had expected a milder contraction of 2.0%. According to the Federal Statistics Office, June’s slump reflected a decrease in sales across all categories with the non-food category declining the most.

On a sequential basis, retail sales adjusted for seasonal factors decreased 0.5% in June, which was a deterioration from the flat print seen in May. The annual average variation in retail sales declined from a 1.1% contraction in May to a 1.4% decrease in June.

Panelists polled by FocusEconomics expect private consumption to expand 1.3% in 2016, which is unchanged 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 June 2016 2

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

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