Retail turnover in Switzerland rose by 2% in July 2024 compared with the previous month. Credit: dodotone/Shutterstock.

The Federal Statistical Office (FSO) has reported that retail trade turnover in Switzerland, adjusted for sales days and holidays, experienced a nominal increase of 1.5% in July 2024 compared with the same month in 2023. 

In terms of seasonally adjusted figures, nominal turnover in July rose by 2% compared with the previous month.  

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When accounting for inflation, real turnover in the retail sector saw a more significant increase of 2.7% year-on-year.  

Real, seasonally adjusted retail trade turnover rose by 1.4% compared with the previous month, indicating a robust short-term performance. 

Excluding service stations, the retail sector’s nominal turnover in Switzerland increased by 1.6% in July 2024 over the same month of the previous year, with real turnover growing 2.9%.  

Retail sales of food, drinks and tobacco showed a healthy performance with a nominal turnover increase of 2.4% and a real-term growth of 2.3%. 

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The non-food sector also reported positive results, with a nominal increase of 0.8% and a real-term rise of 3.1% during the month.  

Seasonally adjusted nominal turnover for the retail sector excluding service stations, increased by 2.1% compared with the previous month, with real turnover up by 1.6%.  

Retail sales of food, drinks, and tobacco saw a nominal increase of 3.0% and a real-term increase of 2.2%.  

The non-food sector experienced a nominal and real term plus of 1.3% and 1.4% respectively. 

The FSO also revealed that the consumer price index (CPI) in Switzerland remained unchanged in August 2024 compared with the previous month at 107.5 points. 

During the month, inflation grew 1.1% compared with the same month of the previous year.