Financial News: Swiss Retail Sales Fall 2.2%

Swiss Retail Sales Fall 2.2%

03/01/2023 - 09:21:00 (RTTNews)

(RTTNews) - Switzerland's retail sales declined for the fourth successive month in January, as sales of both food and non-food items contracted, data from the Federal Statistical Office showed on Wednesday.

Retail sales adjusted for sales days and holidays fell a working-day adjusted 2.2 percent year-on-year in January, slower than the 3.0 drop in December.

Sales of food, beverages, and tobacco declined 3.3 percent yearly in January and those of non-food items decreased 2.3 percent, the agency said.

Retail sales, excluding service stations, deteriorated by 2.4 percent in January from a year ago, after a 3.3 percent fall a month ago.

On a monthly basis, retail sales grew a seasonally adjusted 0.6 percent at the start of the year.

In nominal terms, retail sales advanced 0.7 annually and by 1.2 percent monthly in January.

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