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- Swiss retail trade fell in March 2020 by a marked 6.2%
Swiss retail trade fell in March 2020 by a marked 6.2%
According to the report from Federal Statistical Office (FSO), turnover adjusted for sales days and holidays fell in the retail sector by 6.2% in nominal terms in March 2020 compared with the previous year.
Seasonally adjusted, nominal turnover fell by 6.0% compared with the previous month. Following the COVID-19 pandemic, turnover slumped markedly in some sectors.
Real turnover adjusted for sales days and holidays fell in the retail sector by 5.6% in March 2020 compared with the previous year. Real growth takes inflation into consideration. Compared with the previous month, real, seasonally adjusted retail trade turnover registered a decline of 6.2%.
Adjusted for sales days and holidays, the retail sector excluding service stations showed a 4.5% decrease in nominal turnover in March 2020 compared with March 2019 (in real terms -4.0%). This resulted in reductions in turnover for service stations of 26% (in real terms -21.6%).
Retail sales of food, drinks and tobacco registered an increase in both nominal and real turnover of 8.4%, whereas the non-food sector registered a nominal minus of 15.8% (in real terms -15.0%).
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