Investing.com - Retail sales in Switzerland fell unexpectedly in March, declining for the first time in 17 months, official data showed on Monday.
In a report, Switzerland’s Federal Statistical Office said that retail sales fell at annualized rate of 0.9% in March, defying expectations for a 0.8% gain.
Retail sales in February were revised down to a 2.3% increase from a previously repotted gain of 2.4%.
Following the release of the data, the Swiss franc remained higher against the U.S. dollar, with USD/CHF shedding 0.08% to trade at 0.9566.
In a report, Switzerland’s Federal Statistical Office said that retail sales fell at annualized rate of 0.9% in March, defying expectations for a 0.8% gain.
Retail sales in February were revised down to a 2.3% increase from a previously repotted gain of 2.4%.
Following the release of the data, the Swiss franc remained higher against the U.S. dollar, with USD/CHF shedding 0.08% to trade at 0.9566.