Switzerland: Decline in retail sales softens in November
Retail sales declined 1.3% year on year in calendar-adjusted terms in November, which was a smaller contraction than October’s 2.6% decrease. Looking at the details of the release, food, beverages, and tobacco sales shrank at a sharper rate in November, while household equipment sales declined at a more moderate, albeit still pronounced, pace.
On a monthly basis, retail sales grew 1.5% in seasonally adjusted terms in November, rebounding from Octobers 2.3% fall. Meanwhile, annual average retail sales growth fell to 0.2% in November (October: +0.8%).