Switzerland: Retail sales plunge in September
November 2, 2018
On a month-on-month calendar- and seasonally-adjusted basis, real retail sales fell 1.6% in September, down from the flat print in August. According to the Swiss Federal Statistics Office, the decline came on the back of a drop in sales of food, drinks and tobacco, and non-food products.
Year-on-year calendar-adjusted real retail sales experienced the strongest downturn in nearly two years in September with sales declining 2.7%. The reading was in contrast with the revised 0.5% increase in August (previously reported: +0.4% year-on-year). Meanwhile, the annual average variation in retail sales swung from 0.2% in August to minus 0.1% in September.
Switzerland Private Consumption Forecast
Panelists polled by FocusEconomics expect private consumption to increase 1.4% in 2019, which is unchanged from last month’s forecasts, and 1.5% in 2020.