Switzerland Retail July 2020

Switzerland

Switzerland: Retail sales speed up in July

September 2, 2020

Retail sales rose 4.1% in annual terms in July, which was above June's 3.3% increase. July’s reading bodes well for private consumption at the outset of Q3, and was likely supported by the lifting of lockdown restrictions.

Looking at the details of the release, food, beverages, and tobacco sales increased sharply in July, while household equipment sales grew at a softer rate. On a seasonally-adjusted monthly basis, retail sales rebounded, rising 0.7% in July (June: -2.3% mom).

FocusEconomics Consensus Forecast panelists expect private consumption to fall 5.5% in 2020, which is up 0.1 percentage points from last month’s forecast, and to grow 3.9% in 2021.


Author:, Economist

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Switzerland Retail Chart


Switzerland Retail July 20 20

Note: Year-on-year changes and annual average variation of retail sales in %.
Source: Swiss Federal Statistics Office (BFS).


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