Swiss Retail Sales Rise 3.6% on Food and Electronics

Swiss December retail sales rose 3.6% y/y on the year in real terms, better than the Reuters median for a 2.0% increase and after a 1.4% y/y fall in November. However, Swiss retail sales are notoriously volatile and the 3m y/y trend rate still slipped to 1.7% from 2.6%. When adjusted for the number of shopping days, sales were rose by a smaller 0.5% y/y, after a 2.5% increase in November and the 3m y/y rate also slipped to 2.0% in December, from 2.6%. Overall, data suggest that the retail sector, although having held up relatively well in 2008, is displaying a downward trend. We are likely to see weaker retail sales figures ahead as consumer demand falters on the back of the credit crunch and weaker confidence.

DailyFX

Disclaimer

Investment in the currency exchange is highly speculative and should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only. Accordingly we make no warranties or guarantees in respect of the content. The publications herein do not take into account the investment objectives, financial situation or particular needs of any particular person. Investors should obtain individual financial advice based on their own particular circumstances before making an investment decision on the basis of the recommendations in this website. While we try to ensure that all of the information provided on this website is kept up-to-date and accurate we accept no responsibility for any use made of the information provided. All intellectual property rights are the property of Daily FX. Daily FX and its affiliates, will not be held responsible for the reliability or accuracy of the information available on this site. The content herein is provided in good faith and believed to be accurate, however, there are no explicit or implicit warranties of accuracy or timeliness made by Daily FX or its affiliates. The reader agrees not to hold Daily FX or any of its affiliates liable for decisions that are based on information from this website. Daily FX highly recommends that before making a decision, the reader collects several opinions related to the decision and verifies facts from at least several independent sources.