Switzerland Retail


Switzerland: Retail sales fall in July

September 9, 2014

In July, retail sales contracted 0.6% over the same month last year in seasonally- and working-day adjusted terms. The print contrasted both the revised 3.3% expansion observed in June (previously reported: +3.4% year-on-year) and the 2.6% increase the markets had expected. According to the Federal Statistics Office, the deterioration in July reflected decreasing growth in sales of food, beverages and tobacco as well as of non-food items.

A month-on-month comparison confirms the deterioration suggested by the annual data: retail sales fell a seasonally-adjusted 3.4% in July, which contrasted the 3.2% expansion tallied in June (previously reported: +2.9% month-on-month). Annual average growth in retail sales inched down from 1.7% in June to 1.6% in July.

Panelists polled by FocusEconomics expect private consumption to expand 1.8% in 2014, which is unchanged from last month’s projection. For 2015, the panel expects private consumption to increase 1.9%.

Author:, Senior Economist

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Switzerland Retail Chart

Switzerland Retail July 2014

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

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