Swiss Retail Sales Increase In March

Switzerland's retail sales increased sharply in March, preliminary data from the Federal Statistical Office showed on Friday.

Retail sales adjusted for sales days and holidays grew by 22.6 percent year-on-year in March.

Sales of food, beverages and tobacco gained 8.5 percent yearly in March and those of non-food sector surged 41.1 percent.

Sales of other household equipment, textiles, DIY and furniture increased 90.1 percent and those of information and communication equipment rose 42.8 percent. Sales of other goods, and culture and recreation goods grew by 31.9 percent and 29.4 percent, respectively.

On a monthly basis, seasonally adjusted retail sales rose 22.1 percent in March.

In nominal terms, retail sales increased 21.5 percent annually in March and gained 21.9 percent from a month ago.

The latest growth was mainly due to the low value of March 2020 when the Covid-19 pandemic first began to filter through, the agency said.

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