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.