Switzerland: Retail sales shrink in November
January 8, 2019
According to the Swiss Federal Statistics Office, calendar-adjusted real retail sales fell 0.5% over the same month a year prior in November, following the upwardly revised 1.0% increase registered in October (previously reported: +0.8% year-on-year). The drop in November came primarily on the back of contractions in automotive fuel, and clothing and footwear sales.
On a month-on-month calendar- and seasonally-adjusted basis, retail sales rose 0.2% in November, moderating from the revised 2.3% increase recorded in October (previously reported: +1.9% month-on-month). Meanwhile, the annual average variation in retail sales inched down to 0.1% in November from 0.2% in October.
Switzerland Private Consumption Forecast
FocusEconomics panelists expect private consumption to increase 1.3% in 2019, which is down 0.1 percentage points from last month’s forecast, and 1.5% in 2020.
Author: Lindsey Ice, Economist