In November, Swiss retail sales experienced a more pronounced slowdown than anticipated, primarily due to a tempered increase in demand for non-food items, according to the latest data released by the Federal Statistical Office on Monday.
On an annual basis, retail sales grew by 0.8 percent, following a steady 1.5 percent increase in October. This marked the fifth consecutive month of growth. However, economists had predicted a 1.3 percent rise.
Sales in the food, beverages, and tobacco sectors saw a 1.0 percent annual increase, up from a 0.5 percent gain in the prior month. Conversely, growth in the non-food sector, excluding service stations, dwindled to 0.1 percent from the 3.2 percent observed in October.
When compared to the previous month, retail sales declined by 0.1 percent in November, reversing the 0.1 percent increase seen in October.
In nominal terms, the retail turnover recorded an annual decrease of 0.3 percent.
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