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Switzerland Retail January 2023

Switzerland: Decline in retail sales softens in January

Retail sales decreased 2.2% year on year in calendar-adjusted terms in January, which was a less pronounced drop than December’s 3.0% decrease. Looking at the details of the release, January’s softer drop was broad-based, with the food, beverages, and tobacco, household equipment and culture and recreation goods sub-sectors all recording improved readings relative to December.

On a monthly basis, retail sales grew 0.6% in seasonally adjusted terms in January, rebounding from December’s 1.6% fall and marking the best result since May 2022. Meanwhile, the trend pointed down, with the annual average variation of retail sales coming in at minus 0.7%, down from December’s minus 0.1%.

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