Switzerland: Retail sales recover in October
On a month-on-month calendar- and seasonally-adjusted basis, real retail sales rose 1.9% in October, rebounding from the 1.6% fall registered in September. According to the Swiss Federal Statistics Office, the recovery was driven by higher sales of both food, drinks and tobacco, and non-food products.
Year-on-year calendar-adjusted real retail sales also recovered, growing 0.8% in October following a marked, upwardly revised 2.5% downturn in September (previously reported: -2.7% year-on-year). Meanwhile, the annual average variation in retail sales swung to 0.2% in October from minus 0.1% in September.