In February, retail sales added 0.8% over the same month last year, which represented a notable deceleration compared to the 4.7% expansion recorded in January and was well below market expectations that had retail sales growth slowing to only 2.0%. The February print showed a deceleration in sales of food, beverages and tobacco. In addition, sales of non-food items deteriorated. On a month-on-month comparison, retail sales contracted a seasonally adjusted 1.3% in February, which contrasted the 1.5% expansion observed in January. As a result of the disappointing February reading, the trend deteriorated, with annual average growth in retails sales inching down from 1.9% in January to 1.8% in February. The Central Bank projects economic growth to slow to 0.5% this year.
Retail sales decelerate sharply in February
April 2, 2012
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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.