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Financial News: Swiss Retail Sales Rise Less Than Expected

Swiss Retail Sales Rise Less Than Expected

07/01/2024 - 03:54:00 (RTTNews)

(RTTNews) - Switzerland's retail sales increased for the second straight month in May, though at a slower-than-expected pace, data from the Federal Statistical Office showed on Monday.

Retail sales adjusted for sales days and holidays rose a working-day adjusted 0.4 percent year-on-year in May, slower than the 2.2 percent rise in April. Meanwhile, economists had expected an accelerated growth rate of 2.5 percent.

Sales of non-food items grew 1.4 percent annually in May, while those of food, beverages, and tobacco declined by 1.6 percent, the agency said.

Retail sales, excluding service stations, showed an increase of 0.3 percent compared to last year.

On a monthly basis, retail sales climbed a seasonally adjusted 0.2 percent in May versus a 0.1 rebound a month ago.

In nominal terms, retail sales fell 0.3 percent annually, while they remained flat on a monthly basis.

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