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Financial News: Swiss Retail Sales Rise Less Than Forecast

Swiss Retail Sales Rise Less Than Forecast

10/31/2022 - 05:18:00 (RTTNews)

(RTTNews) - Switzerland's retail sales increased for the fourth successive month in September, though at a slower-than-expected rate, data from the Federal Statistical Office showed on Monday.

Retail sales adjusted for sales days and holidays climbed a working-day adjusted 3.2 percent year-on-year in September, faster than the revised 2.1 percent increase in August. That was just below the 3.3 percent rise expected by economists.

Sales of non-food rose 5.0 percent yearly in September, while sales of food, beverages and tobacco showed no variations, the agency said.

Retail sales, excluding service stations, increased 2.9 percent in September from a year ago.

On a monthly basis, retail sales grew at a stable rate of 0.9 percent in September. This was the second consecutive monthly rise.

In nominal terms, retail sales gained 5.7 percent annually and by 1.0 percent monthly in September.

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