- Swiss retail trade turnover increased by 0.9% in March 2023 compared to the previous year, adjusted for sales days and holidays.
- However, real turnover adjusted for sales days and holidays fell by 1.9% in the retail sector compared to the previous year, indicating a decline in real growth.
- The retail sector, excluding service stations, saw a 1.6% increase in nominal turnover in March 2023 compared to the previous year, with the non-food sector recording a nominal increase of 1.7%.
- Seasonally adjusted, nominal turnover fell by 0.2% compared to the previous month.
- Detailed information, including adjusted and unadjusted figures for calendar effects and seasonal fluctuations, is available on the FSO statistics website.
- The decline in real turnover could suggest that consumers are becoming more cautious with their spending, possibly due to economic uncertainty or rising costs of living.
According to the latest provisional findings from the Federal Statistical Office (FSO), Swiss retail trade turnover grew by 0.9% in March 2023 compared to the previous year, adjusted for sales days and holidays. However, seasonally adjusted, nominal turnover fell by 0.2% compared to the previous month.
Real turnover, adjusted for sales days and holidays, fell by 1.9% in the retail sector compared to the previous year. Real growth factors in inflation. Compared to the previous month, real, seasonally adjusted retail trade turnover declined by 0.1%.
The retail sector, excluding service stations, showed a 1.6% increase in nominal turnover in March 2023 compared to the previous year (in real terms, -1.3%). Retail sales of food, drinks, and tobacco saw an increase in nominal turnover of 1.0% (in real terms, -4.2%), while the non-food sector recorded a nominal increase of 1.7% (in real terms, +0.3%).
When excluding service stations, the retail sector saw a seasonally adjusted decline in nominal turnover of 0.2% compared to the previous month (in real terms, -0.1%). Retail sales of food, drinks, and tobacco recorded a nominal decrease of 0.5% (in real terms, -0.8%), while the non-food sector saw a decrease of 0.4% (in real terms, -0.3%).
The FSO provides detailed information about the data, including adjusted and unadjusted figures for calendar effects and seasonal fluctuations, on its statistics website.
While the increase in retail trade turnover is positive, the decline in real turnover adjusted for sales days and holidays indicates that the growth is not keeping up with inflation. The decline in real turnover could also suggest that consumers are becoming more cautious with their spending, possibly due to economic uncertainty or rising costs of living. Overall, the findings suggest a mixed picture for the Swiss retail sector.
Inputs from/ bfs.admin.ch
