Switzerland: Retail sales slow somewhat in September
November 1, 2012
In September, retail sales expanded 5.4% over the same month last year, which was below the revised 6.0% increase recorded in August (previously reported: +5.9% year-on-year) but overshot market expectations that had seen retail sales increasing 4.2%. The deceleration was broad based, with both sales of non-food items as well as of food, beverages and tobacco items recording slower growth. A month-on-month comparison confirms the deterioration suggested by the annual figures, as retail sales expanded a seasonally adjusted 0.3% in September, which was half the 0.6% rise tallied in August. The trend, however, continues its upward trajectory, with annual average growth in retail sales rising from 2.3% in August to 2.9% in September.