Investing.com - Retail sales in Switzerland rose significantly more-than-expected in January, official data showed on Monday.
In a report, Switzerland’s Federal Statistical Office said that retail sales rose at annualized rate of 4.4% in January, more than doubling expectations for a 2.0% gain.
Retail sales for December were revised up to a 1.7% gain from a previously reported 0.6% increase.
Month-over-month, Swiss retail sales rose 1.6% in January, after dropping 2.9% in the preceding month.
Following the release of the data, the Swiss franc was fractionally lower against the U.S. dollar, with USD/CHF easing up 0.08% to trade at 0.9147.
In a report, Switzerland’s Federal Statistical Office said that retail sales rose at annualized rate of 4.4% in January, more than doubling expectations for a 2.0% gain.
Retail sales for December were revised up to a 1.7% gain from a previously reported 0.6% increase.
Month-over-month, Swiss retail sales rose 1.6% in January, after dropping 2.9% in the preceding month.
Following the release of the data, the Swiss franc was fractionally lower against the U.S. dollar, with USD/CHF easing up 0.08% to trade at 0.9147.