Swiss Retail Sales Unexpectedly Fall 0.2%
Switzerland’s retail sales decreased unexpectedly in February after recovering in the previous month, data from the Federal Statistical Office showed on Tuesday.
Retail sales adjusted for sales days and holidays fell a working-day adjusted 0.2 percent year-on-year in February, reversing a 0.3 percent rise in January. Meanwhile, economists had expected a 0.4 percent increase.
Sales of food, drinks, and tobacco decreased 0.4 percent annually in February, while those of non-food items increased by 1.1 percent, the agency said.
Retail sales, excluding service stations, also showed an increase of 0.2 percent compared to last year.
On a monthly basis, retail sales dropped a seasonally adjusted 0.4 percent in February versus a 0.7 percent increase a month ago.
In nominal terms, retail sales fell 0.4 percent annually and declined 0.2 percent monthly in Februaru.
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