Swiss retail trade pleased with slight increase in the first half of 2018
The Swiss retail sector achieved year-on-year growth of 1.1% in the first half of 2018. Meanwhile, the non-food retail sector recorded a decline of 0.3% compared to the same period last year.
Sales in the Swiss retail sector increased by 1.1% in the first six months of 2018. Despite the FIFA World Cup, which had a positive impact on some product groups such as sportswear, televisions and projectors, non-food retail practically stagnated at -0.3%. With the exception of fashion/style, however, all non-food markets surveyed by GfK achieved slight increases.
Overall, a slight increase can be expected for 2018 following the good result in the first half of 2018. It should be noted that the first half of the year had a weak prior-year performance and that the warm summer weather in May and June 2018 had a positive impact on the markets. However, the second half of 2018 will be more challenging, as the markets had already eased from fall 2017.
Inflation has risen slightly in recent months. In June 2018, it was 1.1% higher than in the same month of the previous year. The Federal Statistical Office is now forecasting inflation of between 0.8% and 1.0% for 2018 and 2019.
