Investing.com - Retail sales in Switzerland rose significantly more-than-expected in May, official data showed on Monday.
In a report, Switzerland’s Federal Statistical Office said that retail sales rose at annualized rate of 6.2% in May, beating expectations for a 5.0% gain.
Retail sales for April were revised up to a 0.2% gain from a previously reported 0.1% increase.
Month-over-month, Swiss retail sales rose 1% in May, after falling by 1.3% in the preceding month.
Following the release of the data, the Swiss franc was lower against the U.S. dollar, with USD/CHF adding 0.17% to trade at 0.9504.
In a report, Switzerland’s Federal Statistical Office said that retail sales rose at annualized rate of 6.2% in May, beating expectations for a 5.0% gain.
Retail sales for April were revised up to a 0.2% gain from a previously reported 0.1% increase.
Month-over-month, Swiss retail sales rose 1% in May, after falling by 1.3% in the preceding month.
Following the release of the data, the Swiss franc was lower against the U.S. dollar, with USD/CHF adding 0.17% to trade at 0.9504.