Switzerland: Retail sales collapse in December
February 2, 2017
In December, retail sales contracted a seasonally- and working-day adjusted 3.5% from the same month of the previous year, which was the steepest fall on record. December’s reading contrasted November’s 0.8% increase, which had been the first expansion in retail sales in 16 months.
On a monthly basis, retail sales adjusted for seasonal factors fell 2.4% in December, which contrasted the 0.9% expansion seen in November. The annual average variation in retail sales inched down from November’s minus 1.7% to minus 1.9% in December, confirming the bleak picture in the Swiss retail sector.