Swiss retail drops 0.9% on the year in February

Friday, 01. April 2016 09:30

Seasonally adjusted nominal turnover in the retail sector in Switzerland fell 0.4% in February from the previous month, but the yearly drop was 0.9%. The provisional report released on Friday by the Swiss Statistics said the real negative change on the month was 0.4% both for overall sales and those excluding fuel. Real turnover of food, beverages and tobacco was reduced by 0.8% while the reading for the non-food segment excluding fuel remained unchanged.

The year-on-year change in real terms was a negative 0.2% in total, as excluding fuel the turnover rose 0.3%, but the nominal result for the segment dropped 0.2%. Sales of fuel dropped 8.5% nominally and 1.5% in real terms from February of last year.

The franc rose 0.15% against the dollar, 0.23% versus the pound and 0.1% compared to the euro (all 9:30 a.m. CET). Swiss stock index SMI sunk 1.6% at 9:15 a.m. CET, driven down mostly by losses of Zurich Insurance, which crashed 9%. Richemont, Swatch and Novartis followed, all dropping over 2%.

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