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Switzerland Retail February 2024

Switzerland: Retail sales record largest decrease in 10 months in February

Retail sales declined 0.1% in month-on-month seasonally adjusted terms in February, which contrasted January’s 0.8% increase. The reading was driven by deteriorations in food, beverages, and tobacco, fuel and household equipment sales.

On an annual basis, retail sales fell 0.2% in February (January: +0.3% yoy).

Taking the January and February data together paints a fairly positive picture of private spending in Q1, which is in line with our panelists’ projections for ongoing quarter-on-quarter private consumption growth.

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