Swiss Retail Sales Growth Slows In November

(RTTNews) - Swiss retail sales growth softened more than expected in November amid a slower rise in demand for non-food products, data from the Federal Statistical Office revealed on Monday.

Retail sales rose 0.8 percent on a yearly basis after a 1.5 percent stable increase in October. Further, this was the fifth successive growth in a row. Economists had expected a 1.3 percent rise.

Sales of food, drinks, and tobacco registered an annual expansion of 1.0 percent versus a 0.5 percent gain in the prior month. Meanwhile, the growth in the non-food sector, without service stations, eased to 0.1 percent from 3.2 percent in October.

Month-on-month, retail sales dropped 0.1 percent in November, in contrast to a 0.1 percent rebound in the previous month.

In nominal terms, retail turnover registered an annual decline of 0.3 percent.