Switzerland Retail May 2020


Switzerland: Retail sales rebound in May

June 30, 2020

Retail sales grew 6.6% in May in annual terms (April: -18.8% year-on-year). May's print marked the best result since September 2008.

The rebound came on the back of an improvement in food, beverages, and tobacco and household equipment sales, and was driven by an easing of pandemic-related containment measures during the month.

On a monthly basis, retail sales increased 30.7% in seasonally-adjusted terms in May, rebounding from April’s 13.6% fall and marking the best result on record. Accordingly, the trend improved with the annual average variation of retail sales coming in at minus 0.8% in May, up from April's minus 1.4%.

FocusEconomics Consensus Forecast panelists expect private consumption to fall 5.2% in 2020, which is down 0.8 percentage points from last month’s forecast, before rising 3.7% in 2021.

Author:, Economist

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Switzerland Retail Chart

Switzerland Retail May 20 20

Note: Year-on-year changes and annual average variation of retail sales in %.
Source: Swiss Federal Statistics Office (BFS).

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