Retail sales fall in March
Published: Thursday, May 2nd 2024, 09:00
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Swiss retailers generated less turnover in March 2024 than a year ago. Turnover fell both in nominal terms and taking inflation into account.
In March, sales at Swiss retailers fell by 0.8% in nominal terms compared to the previous year, according to provisional results published by the Federal Statistical Office (FSO) on Thursday. The development is adjusted for sales and holiday effects.
In real terms - i.e. taking into account factors such as inflation - sales fell by 0.1% year-on-year.
If the sales trend at petrol stations is excluded, sales shrank by 0.7% in nominal terms (0.0% in real terms). According to the FSO, retail sales of food, beverages and tobacco grew by 0.8% in nominal terms (+0.7% in real terms), while sales in the non-food sector fell by 2.6% (-2.1% in real terms).
Retail trade also weakened compared to the previous month
Compared to the previous month of February, retail sales fell by 0.7% in nominal and seasonally adjusted terms, and by 0.4% in real terms. Excluding petrol stations, sales fell by 0.8% in nominal terms (-0.5% in real terms) compared to February.
Retail sales of food, beverages and tobacco increased by 0.2% month-on-month (+0.4% in real terms). The non-food sector recorded a nominal decline of 2.3% (-2.1% in real terms).
The Federal Statistical Office's retail sales statistics are based on a random sample of around 3,000 companies. It is a monthly survey, with small businesses being asked about their monthly turnover figures on a quarterly basis.
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