Switzerland: Retail sales rebound in June
On a month-on-month calendar- and seasonally-adjusted basis, real retail sales rebounded from a steep 1.0% contraction in May to a 0.5% increase in June. According to the press release provided by the Swiss Federal Statistics Office, sales of non-food products as well as food, drinks and tobacco bounced back from the contractions registered in May to record expansionary prints in June.
In June, calendar-adjusted real retail sales rose 0.3% from the same month a year prior, down slightly from the revised 0.4% expansion observed in May (previously reported: -0.1% year-on-year). Meanwhile, the annual average variation in retail sales ticked down from May’s 0.2% to 0.1% in June.