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Financial News: Swiss Retail Sales Lowest In 11 Months

Swiss Retail Sales Lowest In 11 Months

10/01/2019 - 07:31:00 (RTTNews)

(RTTNews) - Switzerland's retail sales declined at the fastest pace in eleven months in August, data from the Federal Statistical Office showed on Tuesday.

Retail sales declined a working day adjusted 1.4 percent year-on-year in August, reversing a 1.5 percent rise in July.

The latest decline in sales was the lowest since September last year, when it fell 2.9 percent.

Sales of non-food sector declined 1.0 percent annually in August and those of food, drinks and tobacco registered a decrease of 0.8 percent.

On a monthly basis, retail sales fell a seasonally adjusted 1.6 percent in August, following a 0.3 percent drop in the previous month. Sales decreased for a second straight month.

In nominal terms, retail sales decreased 1.3 percent annually in August and fell 1.6 percent from the previous month.

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