Switzerland: Retail sales recover in January
March 3, 2016
In January, retail sales expanded a seasonally- and working-day adjusted 0.2% over the same month of the previous year. The reading contracted the 1.7% decrease seen in December. According to the Federal Statistics Office, January’s increase reflected increasing sales in the non-food sector.
On a sequential basis, retail sales adjusted for seasonal factors decreased 0.3% in January, thus contrasting the 0.9% increase seen in December. Annual average growth in retail sales increased slightly from a 1.2% decrease in December to a 1.1% drop in January.
Author: Dirina Mançellari, Senior Economist