Swiss Retail Sales Recover 0.7%

(RTTNews) - Switzerland's retail sales increased for the first time in five months in November amid more demand for non-food items, data from the Federal Statistical Office showed on Monday.

Retail sales adjusted for sales days and holidays rose a working-day adjusted 0.7 percent year-on-year in November, reversing a 0.3 percent drop in October. Meanwhile, sales were expected to remain flat.

Sales of non-food items grew 3.1 percent annually in November, while those of food, drinks, and tobacco decreased 1.4 percent, the agency said.

Retail sales, excluding service stations, showed a decline of 1.0 percent compared to last year.

On a monthly basis, retail sales climbed a seasonally adjusted 0.7 percent in November versus a 0.4 percent gain a month ago.

In nominal terms, retail sales grew 1.6 percent annually and by 0.6 percent monthly in November.