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Swiss Retail Sales Unexpectedly Decline For Third Month

Switzerland's retail sales fell for a third consecutive month in January, defying expectations for an increase, preliminary data from the Federal Statistical Office showed on Friday.

Retail sales decreased a calendar-adjusted real 0.4 percent year-on-year after a revised 0.2 percent decline in December. Sales fell 0.6 percent in November.

Economists had forecast a 0.4 percent gain for January.

Sales of food, drinks and tobacco decreased 0.2 percent year-on-year and non-food sales fell 1 percent.

On a month-on-month basis, retail sales fell a seasonally adjusted 0.3 percent following a 0.2 percent. drop in December. Sales were flat in November.

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