Investing.com – Retail sales in Switzerland declined unexpectedly in January, dropping for the second consecutive month, official data showed on Thursday.
In a report, Switzerland’s Federal Statistical Office said that retail sales fell by an annual rate of 2.6% in January, after slumping by 0.8% in December, whose figure was revised from a decline of 0.4%.
Analysts had expected retail sales to increase at annual rate of 1.7% in January.
Following the release of the data, the Swiss franc was down against the U.S. dollar, with USD/CHF gaining 0.24% to hit 0.9259.
In a report, Switzerland’s Federal Statistical Office said that retail sales fell by an annual rate of 2.6% in January, after slumping by 0.8% in December, whose figure was revised from a decline of 0.4%.
Analysts had expected retail sales to increase at annual rate of 1.7% in January.
Following the release of the data, the Swiss franc was down against the U.S. dollar, with USD/CHF gaining 0.24% to hit 0.9259.