Switzerland retail sales growth falls short of estimates

Retail sales in Switzerland were reported to have risen at the slowest annual rate since June in November.

Retail sales went up 0.8% year-on-year in November, while slowing from a revised up 1.5% rise in October, the latest data by the Swiss Federal Statistical Office showed.

The actual figure fell short of market consensus of a 1.2% growth.

In November, sales growth slowed for:

– non-food products (0.1% YoY versus 3.2% YoY in October);
– service stations (0.6% YoY versus 2.2% YoY in October).

At the same time, sales growth picked up for food, beverages and tobacco (1% YoY compared to 0.5% YoY in October).

In month-over-month terms, Switzerland’s retail sales went down 0.1% in November.

The Swiss Franc was 0.52% weaker on the day against the Euro, with the EUR/CHF currency pair last trading at 0.9402.