Switzerland: Retail sales contract in January on weak clothing and footwear turnover
March 1, 2018
In January, calendar-adjusted real retail sales contracted 1.4% from the same month a year ago, coming in below the upwardly-revised 0.7% increase logged in December (previously reported: +0.6% year-on-year). January’s weak performance was driven largely by a double-digit annual decline in clothing and footwear sales.
On a monthly basis, calendar- and seasonally-adjusted real retail sales dropped 0.7% in January, moderating from December’s downwardly revised 1.5% decline (previously reported: -0.7% month-on-month). Meanwhile, the annual average variation in retail sales was essentially flat again in January.
Author: Christopher Thomas, Economist