Switzerland January retail sales -0.5% vs +4.7% y/y prior
Latest data released by the Federal Statistics Office - 1 March 2021
This is quite a poor report as monthly retail sales fell by 5.3%, led by a 11.6% decline in non-food sales (ex-fuel). That's not quite a good look on consumption activity to start the year in the Swiss economy and will keep the SNB policy stance as it is.
- Prior +4.7%; revised to +5.4%