FX.co ★ Swiss Retail Sales Slump Eases Sharply

Retail sales in Switzerland fell for a third straight month in September, but the pace of decline slowed sharply, preliminary data from the Federal Statistical Office showed Tuesday.

Retail sales adjusted for inflation as well as sales days and holidays fell 0.6 percent year-on-year in September following a 2.2 percent decline in August and a 2.7 percent drop in July. Economists had forecast a 1.9 percent decrease. Sales grew 0.8 percent from the previous month. Excluding service stations, retail sales decreased 0.5 percent year-on-year after a 1.7 percent decline in the previous month. Sales of food, drinks and tobacco shrunk 1.1 year-on-year, whereas those of the non-food products decreased 0.6 percent. On a month-on-month basis, food sales grew 0.2 percent and non-food sales rose 1.1 percent.