Switzerland January retail sales -0.5% vs +4.7% y/y prior

Author: Justin Low | Category: News

Latest data released by the Federal Statistics Office - 1 March 2021

  • Prior +4.7%; revised to +5.4%
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.
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