Switzerland Retail August 2020

Switzerland

Switzerland: Retail sales continue to expand in August

October 1, 2020

Retail sales grew 2.5% calendar-adjusted year-on-year basis in August (July: +3.6%).

Looking at the details of the release, food, beverages, and tobacco sales rose in August, while household equipment sales increased at a softer rate. Meanwhile, culture and recreation goods sales fell at a softer pace compared to the prior month.

On a monthly basis, retail sales dropped 1.9% in seasonally-adjusted terms in August, which was below July’s flat reading. Meanwhile, the trend improved slightly, with the annual average variation of retail sales coming in at minus 0.2%, up from July's minus 0.5%.

Retail sales figures for July and August paint a much more positive picture of private consumption compared to Q2, spurred by the lifting of Covid-19 restrictions.

FocusEconomics Consensus Forecast panelists expect private consumption to fall 5.9% in 2020, which is down 0.4 percentage points from last month’s forecast, and to grow 3.8% in 2021, which is down 0.1 percentage points from last month’s forecast.


Author:, Economist

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Switzerland Retail Chart


Switzerland Retail August 20 20 1

Note: Year-on-year changes and annual average variation of retail sales in %.
Source: Swiss Federal Statistics Office (BFS).


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