Switzerland: Retail sales plunge in April
June 1, 2016
In April, retail sales contracted a seasonally- and working-day adjusted 1.9% over the same month last year. The reading, which came in below the 1.6% decline seen in March, represented the ninth consecutive contraction and was the worst result in over a year. According to the Federal Statistics Office, April’s drop reflected a decrease in sales for both food items of non-food items.
On a sequential basis, retail sales adjusted for seasonal factors increased 0.1% in April, which contrasted the 0.4% fall seen in March. The annual average variation in retail sales deteriorated slightly from a 0.9% contraction in March to a 1.0% decrease in April.