Switzerland Retail July 2016

Switzerland

Switzerland: Fall in retail sales eases in July

September 1, 2016

In July, retail sales contracted a seasonally- and working-day adjusted 2.2% over the same month last year. The reading came in above the revised 3.5% decline seen in June (previously reported: -3.9% year-on-year). According to the Federal Statistics Office, July’s figure 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 increased 0.2% in July, which contrasted the 0.2% decline recorded in June. The annual average variation in retail sales declined from a 1.4% contraction in June to a 1.6% decrease in July, which marked the lowest level on record.

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%.


Author: Marlène Rump, Senior Data Analyst

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Switzerland Retail July 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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