Swiss Retail Sales Rise 3.8%

Swiss retail sales growth accelerated for the first time in six months in June, data from the Federal Statistical Office revealed on Thursday.

Retail sales climbed 3.8 percent year-on-year in June, much faster than the 0.3 percent rise in May. The expected increase was only 0.2 percent.

Sales of food, drinks, and tobacco registered a rebound of 2.8 percent. Sales in the non-food sector grew at an accelerated pace of 5.3 percent versus a 1.8 percent increase a month ago. Excluding service stations, sales growth accelerated to 4.1 percent from 0.5 percent in May.

Monthly, retail sales rose 1.5 percent in June after falling 0.4 percent in May. Moreover, this was the first increase in five months.

In nominal terms, retail turnover climbed 3.3 percent from last year.

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