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Swiss Retail Sales Decline 20% On Covid-19

Switzerland's retail sales declined at a faster rate in April, amid the Covid-19 outbreak, data from the Federal Statistical Office showed on Tuesday.

Retail sales declined a working-day adjusted 19.9 percent year-on-year in April, following a 5.8 percent fall in March.

All the sectors were affected to varying degrees due to the Covid-19 pandemic, the agency said.

Sales of other goods that includes clothing, chemists, watches and jewelry, decreased 55.5 percent. Sales of non-food sector dropped 40.2 percent.

Other household equipment, textiles, DIY and furniture segment sales logged the biggest fall in April, down 44.9 percent.

Meanwhile, sales of food, beverages and tobacco rose 3.5 percent.

Sales through market stalls, mail order houses or internet increased and those of "information and communication equipment" grew 12.1 percent.

On a monthly basis, seasonally adjusted retail sales decreased 14.7 percent in April, following a 6.7 percent fall in the prior month.

In nominal terms, retail sales fell 20.6 percent annually in April and fell 14.8 percent from a month ago.

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