Switzerland: Retail sales slow in December
February 7, 2014
In December, retail sales increased a seasonally and working-day adjusted 2.3% over the same month of the previous year. The reading represents a deceleration compared to the 4.2% expansion observed in November, which had marked the strongest expansion in 11 months. According to the statistical office, sales of food, beverages and tobacco decreased over the previous month, while sales of non-food items increased.
On a monthly basis, retail sales fell a seasonally-adjusted 0.7% in December, which contrasts the hefty 2.0% increase observed in November. In the full year 2013, retail sales grew 1.9%, which came in below the 3.6% expansion registered in 2012.
Panelists polled by FocusEconomics expect private consumption to expand 1.8% in 2014, which is unchanged from last month's projection. For 2015, the panel expects private consumption to increase 2.0%.
Author: Ricardo Aceves, Senior Economist