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Swiss retail sales up 30 percent in May after COVID-19 measures eased

© Nora Tarvus | Dreamstime.com

Recently published figures show a overall jump of 30.2% in retail sales in May 2020 compared to April 2020.

May’s rise of 30.2% follows falls of 6.5% in March and 13.7% in April.

However not all retail sectors experienced the same rise in May sales. Food, drink and tobacco sales rose 3.4% and fuel sales were up 6.3% month on month. Clothing and shoe sales were up a whopping 433.5% compared to April.

Clothing and shoe sales fell 55.4% and 61.0% in March and April, so a steep rise in May (433.5%) was not unexpected.

Food, drink and tobacco sales were up 6.8% in March and down 1.7% in April. The rise of 3.4% in May left retail sales of these products solidly up over three months.

May’s rise (6.3%) in fuel sales failed to make up for lost sales in March (-19.8%) and April (-22.5%). But consumers were never going to make up for driving they didn’t do in March and April in May.

Online sales only rose 2.0% in May, after rising 7.3% in March and 15.6% in April.

Full story here
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Investec
Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa and Australia, as well as certain other geographies. Investec’s strategic goals are motivated by the desire to develop an efficient and integrated business on an international scale through the active pursuit of clearly established core competencies in the group’s principal business areas.
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Permanent link to this article: https://snbchf.com/2020/07/investec-swiss-retail-sales-30-may-after-covid-19-measures-eased/

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