Switzerland: Retail sales rebound in September
November 1, 2019
Calendar-adjusted real retail sales rose 0.9% on an annual basis in September, almost reversing August’s revised 1.0% decrease (previously reported: -1.4% year-on-year). September’s increase was driven by a rebound in sales of clothing and footwear, while lower fuel sales amid subdued crude oil prices tempered the rise.
On a month-on-month seasonally-adjusted basis, real retail sales dropped 0.3% in September, following the 1.1% fall registered in the prior month. Meanwhile, growth in the annual average variation in retail sales was flat in September, following the 0.3% decline seen in August.
Author: Stephen Vogado, Economist