Switzerland: Retail sales record quickest growth since February in September
October 31, 2022
Retail sales increased 3.2% year on year in calendar-adjusted terms in September, which was above August's 2.1% increase. September's figure marked the best reading since February. Looking at the details of the release, food, beverages, and tobacco sales increased at a slower rate in September, while household equipment sales contracted at a far softer pace. Meanwhile, culture and recreation goods sales decelerated.
On a monthly basis, retail sales increased 0.9% in seasonally adjusted terms in September, matching August’s expansion. Meanwhile, the annual average variation of retail sales was steady at August's +1.3% in September.
Author: Oliver Reynolds, Economist