Switzerland Retail November 2019

Switzerland

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.

FocusEconomics panelists expect private consumption to increase 1.1% in 2020, which is down 0.1 percentage points from last month’s forecast, and 1.3% in 2021.


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