Switzerland: Retail sales plummet in March
May 2, 2018
In March, calendar-adjusted real retail sales contracted 1.8% from the same month a year prior, the largest contraction since December 2016 and coming in well below the 0.2% fall recorded in February. Non-food, non-fuel sales drove the decline, while sales of food, drinks and tobacco increased healthily.
On a month-on-month calendar- and seasonally-adjusted basis, real retail sales grew 0.1% in March, slowing from the upwardly revised 0.5% increase registered in February (previously reported: +0.3% month-on-month). Meanwhile, the annual average variation in retail sales fell to negative 0.3% in March from positive 0.1% in February.
Switzerland Private Consumption Forecast
Panelists polled by FocusEconomics expect private consumption to increase 1.4% in 2018, which is unchanged from last month’s forecast. For 2019, the panel again expects private consumption to rise 1.4%.
Author: Lindsey Ice, Economist