Switzerland: Retail sales grow at joint-quickest pace since May in December
February 1, 2021
Retail sales rose 4.7% year-on-year in calendar-adjusted terms in December, which was above November's 1.8% increase. The reading marked the joint-best result since May. December's notable upturn came on the back of faster growth in food, beverages, and tobacco, and household equipment sales.
On a seasonally-adjusted monthly basis, retail sales rose 2.6% in December (November: -2.3% mom). Meanwhile, the trend improved, with the annual average growth of retail sales coming in at plus 0.6% in December, up from November's 0.2% reading.
Author: Oliver Reynolds, Economist