Swiss Real Retail Sales rebound 6.6% YoY in May vs. -18.8% previous
|According to the latest data published by the Swiss Federal Statistical Office showed on Tuesday, the country’s retail trade rebounded sharply from the coronavirus-imposed lockdown driven previous fall.
Switzerland’s Real Retail Sales jumped 6.6% on a yearly basis in May, compared to a revised slump of 18.8% in the previous month.
About Real Retail Sales
The Retail Sales is conducted by the Swiss Federal Statistical Office. The retail sales is a survey of goods sold in the last month and serves as an indicator of the Swiss consumer demand. The figure here is real, not nominal, and non-seasonally adjusted. Generally, an increase in this figure is bullish for the CHF while a decrease is bearish.
Market reaction
The Swiss franc is unimpressed by the encouraging domestic data, as USD/CHF challenges weekly tops near 0.9530.
The spot rises 0.18% so far and looks poised to test the 0.9600 level.
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