Switzerland: Retail sales contract less in October
December 1, 2015
In October, retail sales fell a seasonally- and working-day adjusted 0.8% over the same month last year. The reading followed the 1.2% decrease seen in September. According to the Federal Statistics Office, October’s decrease mainly reflected lower sales of food, drinks and tobacco.
On a sequential basis, retail sales adjusted for seasonal factors rose 0.3% in October, thus contrasting the 0.2% decrease seen in September. Annual average growth in retail sales fell from a 0.6% decrease in September to a 0.7% drop in October, which marked the lowest level on record.
Author: Dirina Mançellari, Senior Economist