Switzerland: Retail sales record worst reading since April in September
Retail sales grew 0.3% year-on-year in September (August: +4.0%). September’s result marked the worst reading since April, and was largely due to a deterioration in growth of food, beverages, and tobacco sales. Meanwhile, household equipment sales picked up pace.
On a seasonally-adjusted monthly basis, retail sales fell at a quicker rate of 3.6% in September (August: -0.7% mom), the worst result since April. Meanwhile, the trend pointed down, with the annual average variation of retail sales coming in at minus 0.2%, down from August’s minus 0.1% reading.