BRUSSELS (dpa-AFX) - Swiss retail sales increased in February after falling at the steepest pace in sixteen months in January, data from the Federal Statistical Office revealed on Wednesday.
In real terms, retail sales rose 0.4 percent on a monthly basis, reversing a revised 1.6 percent fall in January. Excluding service stations, total retail sales were 0.5 percent higher.
The rebound in February was largely driven by the sales of non-food products, which grew 1.5 percent compared to a 2.4 percent decrease a month ago. Meanwhile, the decline in the sales of food products eased to 0.7 percent from 0.9 percent. Data showed that online sales recovered strongly by 3.6 percent.
On a yearly basis, retail sales climbed 0.9 percent in February, in contrast to a 0.6 percent fall in the previous month, as expected.
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