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Switzerland Retail August 2022

Switzerland: Retail sales expand at solid pace in August

Retail sales grew 3.0% year on year in calendar-adjusted terms in August (July: +3.0% c.a. yoy). Looking at the details of the release, food, beverages, and tobacco sales returned to growth in August, and household equipment sales declined at a softer, albeit still pronounced, rate. Meanwhile, culture and recreation goods sales growth slowed but remained elevated.

On a seasonally adjusted monthly basis, retail sales rose at a faster rate of 1.2% in August (July: +0.1% mom), the best result since August 2021. Meanwhile, the trend improved modestly, with the annual average growth of retail sales coming in at 1.4% in August, up from July’s 1.2% reading.

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