Switzerland: Retail sales record a soft contraction in May
July 3, 2017
In May, retail sales declined a seasonally and working-day adjusted 0.3% from the same month last year, which marks a smaller contraction than April’s 0.9% slump. A sharp fall in the non-food sector’s sales drove May’s result.
On a monthly basis, retail sales adjusted for seasonal factors rose 0.3% in May, rebounding after April’s 2.7% fall. The annual average variation in retail sales inched up from minus 1.3% in April to a 12-month high of minus 1.2% in May.
Author: Nihad Ahmed, Economist