Switzerland Retail May 2016

Switzerland

Switzerland: Contraction in retail sales slows in May

July 1, 2016

In May, retail sales contracted a seasonally- and working-day adjusted 1.6% over the same month last year. The reading came in above the 2.2% decline seen in April and represented the tenth consecutive contraction. According to the Federal Statistics Office, May’s drop reflected a decrease in sales of non-food items, while food, drinks and tobacco sales inched up.

On a sequential basis, retail sales adjusted for seasonal factors increased 0.2% in May, which reversed the 0.2% fall seen in April. The annual average variation in retail sales deteriorated slightly from a 1.0% contraction in April to a 1.1% decrease in May.

Panelists polled by FocusEconomics expect private consumption to expand 1.3% in 2016, which is up 0.2 percentage points from last month’s projection. For 2017, the panel expects private consumption to increase 1.4%.


Author: Marlène Rump, Senior Data Analyst

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Switzerland Retail May 2016 3

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


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