Swiss retail sales unexpectedly rose in February

Federal Statistical Office said, turnover adjusted for sales days and holidays fell in the retail sector by 0.4% in nominal terms in February 2020 compared with the previous year. Seasonally adjusted, nominal turnover rose by 0.3% compared with the previous month.

Real turnover adjusted for sales days and holidays rose in the retail sector by 0.3% in February 2020 compared with the previous year. Economists had expected a 0.7% decrease. Real growth takes inflation into consideration. Compared with the previous month, real, seasonally adjusted retail trade turnover registered an increase of 0.4%.

Adjusted for sales days and holidays, the retail sector excluding service stations showed a 0.6% increase in nominal turnover in February 2020 compared with February 2019 (in real terms +1.3%). Retail sales of food, drinks and tobacco registered an increase in nominal turnover of 3.9% (in real terms +4.7%), whereas the non-food sector registered a nominal negative of 2.4% (in real terms -1.5%).

Excluding service stations, the retail sector showed a seasonally adjusted increase in nominal turnover of 0.7% compared with the previous month (in real terms +0.8%). Retail sales of food, drinks and tobacco registered a plus of 2.9% (in real terms +3.0%). The non-food sector showed a minus of 1.0% (in real terms -1.0%).