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Switzerland Retail March 2023

Switzerland: Retail sales drop again in March

Retail sales fell 1.9% year on year in calendar-adjusted terms in March (February: -0.5% c.a. yoy). March’s downturn was primarily driven by contractions in food, beverages, and tobacco and culture and recreation goods sales.

On a monthly basis, retail sales declined 0.1% in seasonally adjusted terms in March, contrasting February’s 0.5% expansion. Meanwhile, the trend improved, with the annual average variation of retail sales coming in at minus 1.2% in March, up from February’s minus 1.6% reading.

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