Switzerland: Retail sales decline in January
Calendar-adjusted real retail sales fell 0.1% year-on-year in January, contrasting December’s upwardly revised 0.8% gain (previously reported: +0.1% year-on-year). The decline was driven by a sharp contraction in the sales of clothing and footwear and automotive fuel. Conversely, food, beverages and tobacco sales rose higher at the outset of the year. Meanwhile, annual average retail sales growth was stable at 0.3% in January.
On a month-on-month seasonally-adjusted basis, real retail sales fell 0.6% in January, which was slightly sharper than the 0.5% decline in December.