Mi., Jan. 31st 2024
Swiss retail trade experienced a marginal increase in turnover by 0.1% in December 2023, despite facing a seasonal decline month-over-month.
Originally reported by Federal Statistics Office:
Swiss retail trade saw a slight nominal increase of 0.1% in turnover after adjusting for sales days and public holidays.
Despite this little growth, there was a 0.6% decrease in seasonally adjusted turnover from the previous month. For 2023, the retail sector in Switzerland experienced a nominal downturn of 0.1%, equating to a 2.0% fall in real terms.
In real turnover terms, which accounts for inflation, there was a 0.8% decline in December 2023 compared to the same month the previous year. After seasonal adjustments, the natural turnover in the Swiss retail trade also saw a 0.6% reduction monthly.
When service stations are excluded from the figures, December 2023 presented a slightly more optimistic picture with a 0.3% year-over-year increase in nominal turnover. However, there was a 0.7% decrease in real terms.
Within this segment, the sales of food, drinks, and tobacco registered a 1.5% increase in nominal terms but saw a 1.1% decline in real terms. On the other hand, the non-food sector faced a 0.8% insignificant decrease and a similar 0.7% reduction in real terms.
The changes from the previous month, excluding service stations, showed a 0.6% drop in nominal and real turnover. Specifically, the food, drinks, and tobacco sales experienced a 1.7% decrease and a 1.4% absolute decrease.
The non-food sector followed this downward trend with a 0.6% fall in nominal and real turnover. These provisional figures from the FSO highlight the subtle yet significant changes in the Swiss retail trade for December 2023, reflecting the intricate dynamics of consumer spending and economic conditions.
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