Switzerland’s retail sales declined in July, after rebounding in June, figures from the Federal Statistical Office showed Monday.
Retail sales dropped a seasonally adjusted 0.6 percent from June, when they rose 1.2 percent. In May, sales fell 0.8 percent. Sales excluding fuel dropped 0.4 percent after a 1.1 percent gain in the previous month.
Sales of food, beverages and tobacco were flat in July, while non-food sales declined 0.9 percent.
Year-on-year, retail sales decreased 0.1 percent in July after a 1.2 percent slump in June. Sales dropped for a third straight month after stagnating in April.
Excluding fuel, retail sales grew 0.7 percent year-on-year, marking the first increase in three months and the biggest gain since December. Sales dropped 0.5 percent in the previous month.
The material has been provided by InstaForex Company – www.instaforex.com