Switzerland Retail

Switzerland

Switzerland: Retail sales deteriorate in February

April 17, 2015

In February, retail sales contracted a seasonally- and working-day adjusted 2.7% over the same month last year. The reading was a deterioration over the revised 0.5% contraction registered in January (previously reported: -0.3% year-on-year) and marked the steepest decrease on record. According to the Federal Statistics Office, February’s decrease reflected lower sales of food and tobacco.

On a sequential basis, retail sales adjusted for seasonal factors fell 1.2% in February, which followed the 2.6% decrease seen in the previous month. Annual average growth in retail sales fell from 0.9% in January to 0.7% in February, which marked the lowest level since October 2009.

Panelists polled by FocusEconomics expect private consumption to expand 1.8% in 2015, which is unchanged from last month’s projection. For 2016, the panel expects private consumption to increase 1.9%.


Author:, Senior Economist

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Switzerland Retail Chart


Switzerland Retail February 2015

Note: Year-on-year changes and annual average variation of retail sales in %.
Source: Swiss Federal Statistics Office (BFS).


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