Switzerland: Retail sales strengthen in July
Calendar-adjusted real retail sales rose 1.4% on an annual basis in July, doubling June’s 0.7% increase. July’s surge was driven by both stronger sales of non-food items as well as food, drinks and tobacco.
On a month-on-month calendar- and seasonally-adjusted basis, real retail sales dipped 0.1% in July, contrasting the revised 1.2% rise registered in June. Meanwhile the annual average variation in retail sales declined 0.1% in July, improving from the 0.3% decline in June.