Swiss Nov. Retail Sales Growth Slows

(RTTNews) - Switzerland's retail sales grew at a pace of 2.5% annually in November in real terms, the Federal Statistical Office said on Monday. The annual growth rate slowed from 3.5% registered in October. However, the rate exceeded 0.9% consensus forecast.

Month-on-month, retail sales fell by a real 1.8% in November largely due to a 2.5% drop in food, beverages and tobacco sales. In October, retail sales had increased 1.6%.

Excluding fuel, real retail sales increased 2.6% year-on-year after increasing 3.5% in October. At the same time, it fell 1.4% on a monthly basis, reversing last month's 1.3% increase. Retail sales of food, drinks and tobacco registered a decline of 2.5% and the non-food sector showed a negative growth of 1.4%.