Switzerland: Retail sales contract again in June
August 28, 2015
In June, retail sales fell a seasonally- and working-day adjusted 0.9% over the same month last year. The reading came in slightly above the 1.0% drop seen in May. According to the Federal Statistics Office, June’s decrease reflected lower sales of food, drinks and tobacco as well as in the non-food sector.
On a sequential basis, retail sales adjusted for seasonal factors rose 1.4% in June, contrasting the 0.9% decrease seen in May and marking a six-month high. Annual average growth in retail sales fell from a flat reading in May to minus 0.3% in June.
Author: Dirina Mançellari, Senior Economist