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Swiss retail sales jump 3.4% in June

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Investing.com -

Investing.com - Retail sales in Switzerland rose significantly more than expected in June, fuelling optimism over the health of the country's economy, official data showed on Monday.

In a report, Switzerland's Federal Statistical Office said that retail sales increased at annualized rate of 3.4% in June, blowing past estimates for a 0.3% gain.

Retail sales growth in May was revised to a 0.5% decline from a previously reported drop of 0.6%.

Following the release of the data, the Swiss franc was modestly lower against the U.S. dollar, with USD/CHF easing up 0.08% to trade at 0.9060.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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