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Switzerland Retail July 2023

Switzerland: Retail sales dip year on year and month on month in July

Retail sales dropped 2.2% year on- ear in calendar-adjusted terms in July (June: +1.0% c.a. yoy). The notable weakening was largely driven by a deterioration in food, beverages, and tobacco sales. In contrast, household equipment sales dropped at a more moderate pace.

On a seasonally adjusted monthly basis, retail sales fell 2.3% in July (June: +1.5% mom), the worst result since July 2021. Meanwhile, the trend pointed down, with the annual average variation of retail sales coming in at minus 1.3%, down from June’s minus 0.9%.

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