Financial News: Swiss Retail Sales Fall For Second Month

Swiss Retail Sales Fall For Second Month

08/06/2024 - 07:53:00 (RTTNews)

(RTTNews) - Swiss retail sales declined for the second straight month in June on weaker food turnover, data from the Federal Statistical Office revealed on Tuesday.

Retail sales declined 2.2 percent on a yearly basis, worse than the 0.2 percent fall seen in May. Sales were expected to grow 0.5 percent.

This was the second consecutive drop in sales after a rebound in April.

Sales of food, drinks and tobacco registered an annual fall of 3.9 percent, whereas the non-food sector posted a 0.5 percent drop.

Month-on-month, retail sales were down 0.1 percent after a 0.2 percent decrease in May.

In nominal terms, retail turnover registered an annual decrease of 3.4 percent in June and slid 0.4 percent on month.

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