Switzerland’s retail trade declined 1.4 percent year-on-year in August 2019, following an upwardly revised 1.5 percent rise in the previous month and compared to market expectations of a 0.3 percent fall. That was the largest decline in sales since September last year, as sales of food, beverages, tobacco dropped 0.8 percent (vs 1.5 percent in July) and non-food trade decreased 1.0 percent (vs 2.3 percent in July). On a monthly basis, retail sales dropped 1.6 percent in August, after a 0.3 percent fall in July. Retail Sales YoY in Switzerland averaged 1.23 percent from 2001 until 2019, reaching an all time high of 6.80 percent in September of 2008 and a record low of -4.20 percent in December of 2016.
Retail Sales YoY in Switzerland is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Switzerland to stand at 0.90 in 12 months time. In the long-term, the Switzerland Retail Sales YoY is projected to trend around 1.60 percent in 2020, according to our econometric models.