Investing.com – Retail sales in Switzerland fell unexpectedly in August, official data showed on Monday.
In a report, Switzerland’s Federal Statistical Office said that retail sales declined at an annualized rate of 1.9% in August, confounding expectations for a 4.5% increase.
July’s figure was revised up to a 2.9% increase from a previously reported 1.9% gain.
Month-over-month, Swiss retail sales tumbled by 3.9% in August, after falling by a revised 2.7% in July.
Following the release of the data, the Swiss franc was down against the U.S. dollar, with USD/CHF gaining 0.47% to trade at 0.9122.
In a report, Switzerland’s Federal Statistical Office said that retail sales declined at an annualized rate of 1.9% in August, confounding expectations for a 4.5% increase.
July’s figure was revised up to a 2.9% increase from a previously reported 1.9% gain.
Month-over-month, Swiss retail sales tumbled by 3.9% in August, after falling by a revised 2.7% in July.
Following the release of the data, the Swiss franc was down against the U.S. dollar, with USD/CHF gaining 0.47% to trade at 0.9122.