Swiss Retail Sales Growth Improves To 2.3%

(RTTNews) - Swiss retail sales growth rebounded somewhat in July, data from the Federal Statistical Office revealed on Tuesday.

In real terms, retail sales climbed 2.3 percent yearly in July, faster than the revised 1.9 percent increase in June. Meanwhile, sales were expected to rise by 1.3 percent. In May, sales growth was 3.6 percent.

Excluding service stations, total retail sales grew at a stable pace of 1.7 percent.

The annual sales growth in non-food products accelerated to 1.8 percent from 1.5 percent, while that in food products softened to 1.2 percent from 2.0 percent. Sales of automotive fuel in specialized stores logged a fresh increase of 0.2 percent.

On a monthly basis, retail sales edged up 0.1 percent in July after rising 0.3 percent in June.