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- Swiss retail sales unexpectedly rose in February
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%).
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