Switzerland: Retail sales moderate in February
April 1, 2016
In February, retail sales contracted a seasonally- and working-day adjusted 0.2% over the same month of last year. The reading came in below the 0.1% decline seen in January. According to the Federal Statistics Office, February’s drop reflected decreasing sales of food, drinks and tobacco.
On a sequential basis, retail sales adjusted for seasonal factors decreased 0.4% in February, which came in slightly above the 0.5% decrease seen in January. The annual average variation in retail sales improved slightly from minus 1.1% in January to minus 0.9% in February.