Switzerland: Retail sales fall in December
February 1, 2019
According to the Swiss Federal Statistics Office, calendar-adjusted real retail sales fell 0.3% over the same month of the previous year in December, following the revised 0.6% dip recorded in November (previously reported: -0.5% year-on-year). December’s decline was largely driven by a sharp drop in the sale of clothing and footwear. Moreover, automotive fuel sales also fell, albeit at a softer rate than in November. Meanwhile, food, alcohol and tobacco sales rose in the month.
On a month-on-month calendar- and seasonally-adjusted basis, retail sales fell 0.2% in December, contrasting November’s flat print (previously reported: +0.2% month-on-month). Meanwhile, the annual average variation in retail sales came in flat in December, down from 0.2% in November.
Author: Lindsey Ice, Economist