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Swiss retail sales grow above expectations in July |
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FXstreet.com (Barcelona) – Total retail sales volume has posted a considerable jump in Switzerland in July, according provisional estimations by the Federal Office for Statistics, beating widely experts estimations, who had advanced a moderate increase.
Swiss retail sales have posted a 2.3% increment in July in inflation and working –day adjusted terms, following a 0.7% increase in June. July’s increase has beaten expectations of a 1.0% increase expected by the market. In nominal terms, sales have risen 4.9% in July.
Food, drinks and tobacco sales have posted the largest increase, 11.7% year on year, followed clothing and shoes, 7.5% up in the last twelve months, both of them estimated in nominal terms. In real terms, clothing and shoes has been the only group to post a decline, 0.2% down year on year.
Posted originally: 9/15/2008 7:31:00 AM
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