Swiss Retail Sales Rose 7.6% Annually In February

Switzerland's retail sales revived in February, making the market believe that despite the global economic slowdown, the Swiss economy will continue to grow with strong consumer spending.

Data show that the actual retail sales increased by 7.6% in Switzerland after the 2 quarter rose, rising by 1.3% in January.

Switzerland's consumption of food and beverages increased by 10.7% in February, furniture consumption increased by 13%, and consumption of electronic products increased by 17%.

But clothing and footwear consumption fell by 2.4% annually.

Despite the challenge of high inflation and credit crisis, Switzerland's consumption has remained steady as the Swiss economy has made remarkable achievements in increasing employment and wages.