Switzerland: Retail sales contract less in December
February 3, 2016
In December, retail sales contracted a seasonally- and working-day adjusted 1.6% over the same month of the previous year. The reading followed the 1.7% decrease seen in November. According to the Federal Statistics Office, December’s decrease reflected falling sales in the non-food sector.
On a sequential basis, retail sales adjusted for seasonal factors increased 1.1% in December, thus contrasting the 0.6% decrease seen in November. Annual average growth in retail sales fell from a 0.8% decrease in November to a 1.2% drop in December, which marked the lowest level on record.
Author: Dirina Mançellari, Senior Economist