Switzerland: Plummeting retail sales moderate in November
January 9, 2018
In November, the contraction in real retail sales moderated significantly, shrinking by a calendar-adjusted 0.2% from the same month a year ago. November’s result improved upon October’s steep 2.6% decline. Weaker turnover was recorded in the food, beverages and tobacco category while stronger non-food, non-fuel sales drove November’s amelioration.
On a monthly basis, calendar- and seasonally-adjusted real retail sales rose 1.3% in November, contrasting October’s upwardly revised 1.2% decline (previously reported: -1.5% month-on-month). Meanwhile, annual average variation in retail sales worsened from a month earlier in November, edging down to minus 0.6% from minus 0.5%.
Author: Christopher Thomas, Economist