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Switzerland Retail October 2023

Switzerland: Retail sales drop again in October

Retail sales dropped 0.1% year on year in calendar-adjusted terms in October (September: -1.2% c.a. yoy). Looking at the details of the release, food, beverages, and tobacco sales decreased at a softer pace in October, while household equipment sales also decreased at a milder rate. In contrast, culture and recreation goods sales rose at a weaker pace.

On a monthly basis, retail sales rose 0.2% in seasonally adjusted terms in October, which was below September’s 0.5% expansion. Meanwhile, the trend improved slightly, with the annual average variation of retail sales coming in at minus 1.8%, up from September’s minus 2.0%.

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