Swiss Retail Sales Growth Improves In April

(RTTNews) - Swiss retail sales increased at the quickest pace in four months in April, data from the Federal Statistical Office revealed on Monday.

In real terms, retail sales climbed 1.6 percent yearly in April, faster than the 1.3 percent growth in March. Meanwhile, sales were expected to rise only by 0.2 percent. It was the third successive monthly expansion.

Excluding service stations, total retail sales were 1.4 percent higher.

The upturn in April was driven by a 2.5 percent growth in sales of non-food products and a 0.3 percent rebound in sales of food, beverages, and tobacco products.

On a monthly basis, retail sales rose a seasonally adjusted 0.4 percent in April versus a 2.5 percent increase in the prior month.