Switzerland: Retail sales growth slows in June
Retail sales rose 1.1% in June (May: +6.2%). The figure was largely due to a deterioration in food, beverages, and tobacco sales. In contrast, household equipment sales improved.
On a seasonally-adjusted monthly basis, retail sales fell 3.8% in June (May: +30.3% mom). Meanwhile, annual average variation of retail sales was steady, coming in at May’s 0.9% in June.