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Financial News: Swiss Retail Sales Unexpectedly Fall 0.2%

Swiss Retail Sales Unexpectedly Fall 0.2%

04/02/2024 - 04:06:00 (RTTNews)

(RTTNews) - Switzerland's retail sales decreased unexpectedly in February after recovering in the previous month, data from the Federal Statistical Office showed on Tuesday.

Retail sales adjusted for sales days and holidays fell a working-day adjusted 0.2 percent year-on-year in February, reversing a 0.3 percent rise in January. Meanwhile, economists had expected a 0.4 percent increase.

Sales of food, drinks, and tobacco decreased 0.4 percent annually in February, while those of non-food items increased by 1.1 percent, the agency said.

Retail sales, excluding service stations, also showed an increase of 0.2 percent compared to last year.

On a monthly basis, retail sales dropped a seasonally adjusted 0.4 percent in February versus a 0.7 percent increase a month ago.

In nominal terms, retail sales fell 0.4 percent annually and declined 0.2 percent monthly in Februaru.

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