Switzerland’s retail sales declined unexpectedly in May, data from the Federal Statistical Office revealed Monday.
Retail sales slid 0.1 percent year-on-year in May, in contrast to a 2.9 percent rise in April. Sales were expected to grow 1.4 percent.
On a monthly basis, retail sales decreased 1.3 percent, in contrast to a 0.4 percent rise in April. This was the first decline in four months.
Retail sales of food, drinks and tobacco logged an annual decrease of 0.3 percent and non-food sector sales fell 1.2 percent.
In nominal terms, turnover in retail rose 0.2 percent annually but it fell 1.2 percent from a month ago.