Switzerland: Retail sales decelerate sharply in April
June 6, 2014
In April, retail sales expanded a seasonally- and working-day adjusted 0.4% over the same month last year. The reading came in below the revised 3.4% expansion tallied in March (previously reported: +3.0% year-on-year) and undershot market expectations of a 3.5% increase. The deceleration in April reflected slower sales of food, beverages and tobacco as well as weaker sales of non-food items.
On a monthly basis, retail sales decreased a seasonally-adjusted 0.9% in April, which contrasted the 1.0% increase registered in March. The annual average growth in retail sales fell from 2.0% in March to 1.8% in April.
Author: Ricardo Aceves, Senior Economist