Switzerland: Retail sales improve in February
April 8, 2014
In February, retail sales expanded a seasonally- and working-day adjusted 1.0% over the same month last year. The expansion marked a notable improvement compared to the revised 0.1% contraction recorded in January (previously reported: +0.3% year-on-year). The expansion in February was mainly the result of a rebound in sales of non-food items, while sales of food, beverages and tobacco slowed down over the previous month.
On a sequential basis, retail sales increased a seasonally-adjusted 1.0% over the previous month in February. The reading contrasted the revised 2.0% contraction observed in January (previously reported: -1.8% month-on-month). Annual average growth in retail sales fell from 1.7% in January to 1.6% in February.
Panelists polled by FocusEconomics expect private consumption to expand 1.9% in 2014, which is up 0.1 percentage points from last month's projection. For 2015, the panel expects private consumption to increase 1.9%.
Author: Ricardo Aceves, Senior Economist