Swiss Retail Sales Rise In July

Switzerland's retail sales increased in July, data from the Federal Statistical Office showed on Thursday.

Retail sales adjusted for sales days and holidays rose a working-day adjusted 2.6 percent year-on-year in July. Economists had forecast a 0.9 percent increase.

Sales of non-food rose 4.5 percent yearly in July, while sales of food, beverages and tobacco declined 0.9 percent, the agency said.

Retail sales, excluding service stations, increased 2.0 percent in July from a year ago.

On a monthly basis, retail sales declined a seasonally adjusted 0.5 percent in July.

In nominal terms, retail sales gained 4.6 percent annually in July and fell 0.3 percent from a month ago.

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