In August, retail sales expanded 5.9% over the same month last year, which was well above the revised 2.9% increase recorded in July (previously reported: +3.2% year-on-year) and overshot market expectations that had seen retail sales increasing 5.0%. The acceleration was broad based, with both sales of non-food items as well as of food, beverages and tobacco items recording faster growth. A month-on-month comparison confirms the improvement suggested by the annual figures, as retail sales expanded a seasonally adjusted 0.5% in August, which contrasted the 0.6% contraction recorded in July. As a result of the August acceleration, the trend continues its upward trajectory, with annual average growth in retail sales rising from 1.8% in July to 2.3% in August.
Retail sales accelerate in August
October 2, 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 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.
October 3, 2016
In August, retail sales contracted a seasonally- and working-day adjusted 3.0% over the same month last year.
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.