Retail sales in Switzerland were reported to have risen at the sharpest annual rate since February 2022 in April.
Retail sales went up 2.7% year-on-year in April, while rebounding from a 0.2% drop in March, the data showed.
The latest figure far exceeded market consensus of a 0.2% rise.
In April, sales of non-food products recovered (up 1.7% YoY after a 1.6% YoY drop in March), while sales of food products rose at a faster rate (4% YoY compared to 1% YoY in March).
In month-over-month terms, Switzerland’s retail sales went up 0.2% in April, following a revised down 0.3% decrease in the preceding month.
The EUR/CHF currency pair settled 0.03% lower at 0.9781 on Friday.
For the week, the minor currency pair retreated 1.40%, as it snapped a three-week streak of gains. It has also been the pair’s worst weekly performance since late-December 2023.
The Forex pair settled in proximity to a fresh three-week low of 0.9770.
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