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Swiss retail sales rebounded for the first time in two years in November, recovering from the previous downward trend. Retail sales climbed 0.2 percent on a nominal basis from a year earlier, according to figures from the Federal Statistics Office, or 0.9 percent in real terms.
Seasonally adjusted, nominal turnover rose by 0.4 percent compared with the previous month. These are provisional findings from the Federal Statistical Office (FSO).
Real turnover in the retail sector also adjusted for sales days and holidays rose by 0.9 percent in November 2016 compared with the previous year. Real growth takes inflation into consideration. Compared with the previous month, real, seasonally adjusted retail trade turnover registered an increase of 0.7 percent.
According to the Federal Statistical Office press release, adjusted for sales days and holidays, the retail sector excluding service stations showed a 0.1 percent increase in nominal turnover in November 2016 compared with November 2015 (in real terms +0.8 percent). Retail sales of food, drinks and tobacco registered an increase in nominal turnover of 0.3 percent (in real terms -0.2 percent), whereas the non-food sector registered zero growth (in real terms +2.0 percent).
Excluding service stations, the retail sector showed a seasonally adjusted increase in nominal turnover of 0.4 percent in November compared with the previous month (in real terms +0.9 percent). Retail sales of food, drinks and tobacco registered a plus of 0.1 percent (in real terms +0.2 percent). The non-food sector showed a plus of 1.0 percent (in real terms +1.9 percent).
Lastly, despite the upturn, experts expect a tough year for retailers as consumer confidence remains fragile.
Meanwhile, the USD/CHF edged higher by 0.04 percent to 1.0178, while at 9:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at 72.82 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
