Retail trade turns over more in September compared with the previous year
Published: Tuesday, Oct 31st 2023, 08:50
Updated At: Wednesday, Nov 1st 2023, 00:55
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Swiss retail sales in September 2023 were higher than in the same period of the previous year. However, taking inflation into account, i.e. in real terms, sales declined.
Specifically, Swiss retailers recorded a nominal year-on-year increase in sales of 0.7 percent in September (value adjusted for sales and holiday effects). However, in real terms - i.e. additionally taking into account factors such as inflation - sales declined by 0.6 percent year-on-year, according to provisional results published by the Federal Statistical Office (FSO) on Tuesday.
Service stations are currently no longer distorting the retail figures to such an extent. If the sales generated there are excluded, retailers posted a nominal year-on-year increase in sales of 0.9% in September (adjusted for sales and holiday effects; -0.5% in real terms).
Sales increase compared to August
Compared with the previous month of August, sales in September rose by 0.9 percent on a seasonally adjusted basis, according to the FSO; in real terms, there was also an increase of 0.8 percent. Excluding service stations, the retail trade posted a nominal, seasonally adjusted increase in sales of 0.7 percent compared with August (+0.7 percent in real terms).
The retail trade in food, beverages and tobacco also recorded a seasonally adjusted nominal month-on-month increase in sales of 0.3 percent (+0.2% in real terms). The non-food sector, on the other hand, registered a nominal increase of 0.8 percent (+1.1% in real terms).
The retail trade turnover statistics of the Swiss Federal Statistical Office are based on a random sample of around 3,000 companies. It is a monthly survey, with small businesses being asked for their monthly sales figures on a quarterly basis.
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