Switzerland: Retail sales fall at softest rate in nine months in October
November 1, 2016
In October, retail sales contracted a seasonally- and working-day adjusted 0.5% from the same month last year, which was a less pronounced drop than the 2.1% decline seen in September. October’s reading beat market expectations of a 2.0% decline and marked the smallest contraction since January.
On a sequential basis, retail sales adjusted for seasonal factors increased 1.2% in October, which was well above the 0.3% expansion seen in September. However, the annual average variation in retail sales mirrored September’s 1.9% contraction, thereby remaining at a record low level.