Switzerland: Retail sales post third consecutive decline in January
March 1, 2019
According to the Swiss Federal Statistics Office, calendar-adjusted real retail sales fell 0.4% over the same month of the prior year in January, descending from December’s revised 0.2% dip (previously reported: -0.3% year-on-year). The decline in January came on the back of a steep drop in sales of food, beverages and tobacco while clothing and footwear purchases continued to fall, but at a slower pace than in December. On the other hand, automotive fuel sales rose notably in the month.
On a month-on-month calendar- and seasonally-adjusted basis, retail sales fell 0.3% in January, down from the 0.2% drop logged in December. Meanwhile, the annual average variation in retail sales were flat in January, as in December.
Author: Lindsey Ice, Economist