Switzerland: Retail sales gain momentum in June
Retail sales increased 1.2% year on year in calendar-adjusted terms in June, which contrasted May’s 1.3% decrease. Looking at the details of the release, June’s rebound was broad-based, with dynamics in the food, beverages, and tobacco, household equipment and culture and recreation goods sub-sectors all improving.
On a seasonally-adjusted monthly basis, retail sales rose at a softer pace of 0.1% in June (May: +1.3% mom). Meanwhile, annual average growth of retail sales was unchanged, coming in at May’s 0.9% in June.