Switzerland: Retail sales growth moderates in October
December 2, 2019
Calendar-adjusted real retail sales rose 0.7% in annual terms in October, down from September's upwardly revised 1.6% increase (previously reported: +0.9% year-on-year). Softer sales in October were caused by a sharp decline in sales of clothing and footwear, and lower fuel sales amid subdued crude oil prices.
On a month-on-month seasonally-adjusted basis, real retail sales grew 1.0% in October, swinging from the 0.2% fall registered in September. Meanwhile, growth in the annual average variation in retail sales was stable at 0.1% in October.