Switzerland retail sales growth decelerates in September

Retail sales in Switzerland were reported to have risen at the softest annual rate since May in September.

Retail sales went up 2.2% year-on-year in September, while slowing from a revised down 2.7% rise in August, the data showed.

The latest figure fell short of market consensus of a 2.5% growth.

In September, sales dropped for food, beverages and tobacco, by 0.4% YoY after a 2.2% rise in August.

At the same time, sales growth slowed for service stations, 0.4% YoY from 2.5% YoY in August.

And, sales growth accelerated for non-food products, 6% YoY from 2.2% YoY in August.

In month-over-month terms, Switzerland’s retail sales went down 0.5% in September.

The EUR/CHF currency pair settled 0.31% higher at 0.9421 on Friday. For the week, the minor currency pair went up 0.80%.