Switzerland: Retail sales continue to fall in February
April 1, 2019
According to the Swiss Federal Statistics Office, calendar-adjusted real retail sales fell 0.2% in annual terms in February, matching January’s revised 0.2% dip (previously reported: -0.4% year-on-year). February’s drop was driven by declines in sales of food, beverages and tobacco as well as sales of clothing and footwear, which both fell at a faster rate in March than in February. On the other hand, automotive fuel sales increased significantly in the month.
On a month-on-month calendar- and seasonally-adjusted basis, real retail sales rose 0.3% in February, recovering from the revised 0.1% dip recorded in January (previously reported: -0.3% month-on-month). Meanwhile, the annual average variation in retail sales remained flat in February.
Author: Lindsey Ice, Economist