Switzerland: Retail sales rebound in February
Retail sales grew 0.3% year on year in calendar-adjusted terms in February, which contrasted January’s 1.7% decrease. Looking at the details of the release, food, beverages, and tobacco sales dropped at a sharper rate in February, while household equipment sales declined at a milder pace. Meanwhile, sales of fuel and culture and recreation goods expanded at faster rates.
On a monthly basis, retail sales increased 1.1% in seasonally adjusted terms in February, matching January’s expansion. Meanwhile, the trend pointed down, with the annual average variation of retail sales coming in at minus 1.5% in February, down from January’s minus 0.7%.