Switzerland: Retail sales rebound in April
June 15, 2015
In April, retail sales expanded a seasonally- and working-day adjusted 1.6% over the same month last year. The reading contrasted the 2.4% drop seen in March and marked a four-month high. According to the Federal Statistics Office, April’s increase reflected higher sales in the non-food sector.
On a sequential basis, retail sales adjusted for seasonal factors rose 2.1% in April, which was better than the weak 0.7% increase seen in March and marked the fastest increase since June 2014. Annual average growth in retail sales inched up from 0.1% in March to 0.2% in April.
Author: Dirina Mançellari, Senior Economist