Swiss retailers' turnover declines 0.5% year on year
Sales in the retail sector in Switzerland dipped 0.9% in nominal terms in October, but the volume rose 1.3% when adjusted for seasonal changes, the Federal Statistical Office said on Thursday. The absolute figure has been declining since the beginning of last year.
Adjusted for calendar, the drop in real turnover on an annual scale slowed to 0.5% after an upwardly revised 2.1% in September. The measure includes inflation. Real retail sales were 1.2% higher on the month, according to the standard. If gas and service stations are excluded, nominal volume fell 1% on the year, or 0.6% in real terms. Month on month, the segment increased 1.3% from September in absolute terms and real sales climbed 1.2%.