Investing.com – Retail sales in Switzerland rose more-than-expected in July, official data showed on Thursday.
In a report, the Swiss Federal Statistics Office said retail sales increased 4.8% year-on-year in July, after falling to 1.0% in June, whose figure was revised up from 0.9%.
Analysts had expected an increase of 2.3% in July.
The report also showed that month-on-month, retail sales grew by a seasonally adjusted 0.7% in July.
The data showed that retail sales of food, drinks and tobacco registered an increase of 4.1%, while the non-food sector registered positive growth of 5.5% in July.
Following the release of the data the Swiss franc was up against the U.S. dollar, with USD/CHF shedding 0.49% to hit 1.0108.
In a report, the Swiss Federal Statistics Office said retail sales increased 4.8% year-on-year in July, after falling to 1.0% in June, whose figure was revised up from 0.9%.
Analysts had expected an increase of 2.3% in July.
The report also showed that month-on-month, retail sales grew by a seasonally adjusted 0.7% in July.
The data showed that retail sales of food, drinks and tobacco registered an increase of 4.1%, while the non-food sector registered positive growth of 5.5% in July.
Following the release of the data the Swiss franc was up against the U.S. dollar, with USD/CHF shedding 0.49% to hit 1.0108.