Switzerland: Retail sales grow at fastest pace since June in November
Retail sales rose 0.7% year on year in calendar-adjusted terms in November (October: -0.3% c.a. yoy), marking the best reading since June. Looking at the details of the release, the print chiefly reflected a rebound in fuel sales, as well as a more moderate contraction in household equipment sales. Conversely, food, beverages, and tobacco sales decreased at a sharper rate in November.
On a monthly basis, retail sales rose 0.7% in seasonally adjusted terms in November, which was above October’s 0.4% expansion and also marked the best result since June. Meanwhile, the trend improved, with the annual average variation of retail sales coming in at minus 1.6% in November, up from October’s minus 1.8% reading.