Switzerland: Retail sales fall at softer rate in January
March 2, 2017
In January, retail sales contracted a seasonally and working-day adjusted 1.4% from the same month of last year, a moderate improvement from the revised 4.1% plunge in December (previously reported: -3.5% year-on-year).
On a monthly basis, retail sales adjusted for seasonal factors increased 0.6% in January, which contrasted the 2.3% drop in December. The annual average variation in retail sales inched down from December’s minus 1.9% to minus 2.0% in January, the worst result on record, confirming the bleak picture in the Swiss retail sector.