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Switzerland Retail November 2020

Switzerland: Retail sales growth wanes in November

Retail sales expanded 1.7% year-on-year in calendar-adjusted terms in November (October: +4.3%). The slowdown was largely due to a deterioration in food, beverages, and tobacco sales. In addition, household equipment sales decelerated. The weaker reading in November was likely linked to tougher Covid-19 restrictions.

On a monthly basis, retail sales declined 2.0% in seasonally-adjusted terms in November, contrasting October’s 3.6% expansion. Meanwhile, the trend improved modestly, with the annual average growth of retail sales coming in at plus 0.2% in November, up from October’s 0.1%.

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