Switzerland: Retail sales rebound in August
On a month-on-month calendar- and seasonally-adjusted basis, real retail sales rebounded to a 0.3% increase in August, swinging from the downwardly revised 1.4 contraction in July (previously reported: -1.0% month-on-month). According to the press release provided by the Swiss Federal Statistics Office, the recovery came on the back of higher sales of food, drinks and tobacco, whereas sales of non-food products declined.
Calendar-adjusted real retail sales increased 0.4% from the same month a year prior in August, contrasting the revised 0.9% drop recorded in July (previously reported: -0.3% year-on-year). Meanwhile, the annual average variation in retail sales rose to 0.2% in August, following a flat print in July.