Switzerland: Retail sales contract less in July
September 14, 2015
In July, retail sales fell a seasonally- and working-day adjusted 0.1% over the same month last year. The reading followed the 1.2% decrease seen in June and marked a three-month high. According to the Federal Statistics Office, July’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 fell 0.6% in July, contrasting the 1.2% increase seen in June. Annual average growth in retail sales was stable at June’s 0.3% contraction.
Author: Dirina Mançellari, Senior Economist