FX.co ★ Swiss Retail Sales Growth Hits 11-Month High

Retail sales in Switzerland rose 3.5% year-on-year in May 2026, sharply beating market expectations of a 0.8% increase and accelerating from a slightly upwardly revised 1.7% gain in April. This was the strongest expansion in retail activity since June of the previous year, driven primarily by higher sales of non-food products excluding service stations, which climbed 4.0% after a 2.3% advance in April.

Within the non-food segment, revenues increased most notably for information and communication equipment (9.0% vs 0.3% in April), other goods (6.5% vs 0.8%), and sales via stalls and markets as well as mail order and internet channels (4.2% vs 1.8%).

Turnover in food, beverages, and tobacco also strengthened, rising 2.6% after a 0.5% increase in the prior month. By contrast, activity at service stations weakened further, with sales down 6.1% after a 2.7% decline in April.

Overall retail trade excluding service stations advanced 3.4% year-on-year, following a 1.3% rise in April. On a seasonally adjusted monthly basis, total retail sales grew 0.5% in May, building on an upwardly revised 0.2% increase in April.