Switzerland: Retail sales growth gains steam in September
Retail sales increased 2.5% year-on-year in calendar-adjusted terms in September (August: +0.8% c.a. yoy). Looking at the details of the release, food, beverages, and tobacco sales fell at a softer rate in September, while the decrease in household equipment sales worsened.
On a monthly basis, retail sales rose 0.1% in seasonally-adjusted terms in September, which was below August’s 1.4% expansion. Meanwhile, annual average growth of retail sales was 5.3% in September, mirroring August’s reading.