Switzerland Retail February 2021

Switzerland

Switzerland: Retail sales drop at sharpest rate since April 2020 in February

April 1, 2021

Retail sales dived 6.3% year-on-year in calendar-adjusted terms in February, which was a deterioration from January's 0.7% decrease. The outturn marked the sharpest drop since April 2020. February's notable deterioration was primarily driven by contractions in household equipment and culture and recreation goods sales, and came amid the closure of non-essential stores and the hospitality sector.

On a monthly basis, retail sales plummeted 5.2% in seasonally-adjusted terms in February, moderating from January’s 6.4% fall. Meanwhile, the trend pointed down, with the annual average growth of retail sales coming in at plus 0.8% in February, down from January's 1.4% reading.

FocusEconomics Consensus Forecast panelists expect private consumption to rise 3.3% in 2021, which is down 0.3 percentage points from last month’s forecast, and to grow 3.1% in 2022.


Author:, Economist

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Switzerland Retail Chart


Switzerland Retail February 2021

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


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