Switzerland: Retail sales swing to expansion in September
November 2, 2015
In September, retail sales expanded a seasonally- and working-day adjusted 0.2% over the same month last year. The reading contrasted the 0.6% decrease seen in August. According to the Federal Statistics Office, September’s increase reflected rising sales of food, drinks and tobacco.
On a sequential basis, retail sales adjusted for seasonal factors rose 0.1% in September, thus contrasting the 0.2% decrease seen in August. Annual average growth in retail sales fell from a 0.4% decrease in August to a 0.5% drop in September, which marked the lowest level on record.
Author: Dirina Mançellari, Senior Economist