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Switzerland: Retail sales continue to decline
Swiss retail sales continued to decline in June, data released by the Federal Statistical Office on Tuesday.
Retail sales declined by 3.9 percent year on year in June, faster than the decline of 1.7 percent recorded in May. In addition, the decline was larger than expected (- 2 percent).
On a monthly basis, retail trade turnover recorded a decline of 0.5 percent in June.
Except for service stations, retail sales fell 0.5 percent in May. Sales of food, drinks and tobacco fell by 0.7 percent and non-food sales were down 0.6 percent.
In nominal terms, the total turnover of retail trade decreased by 4.6 percent in June compared with the previous year. The decline continued in January 2015, and that was the biggest decline since January 2003, said the Bureau of Statistics.
In monthly terms, the nominal retail trade turnover fell by 3.9 per cent in June.
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