Forexpros — Retail sales in Switzerland rose less-than-expected in July, official data showed on Thursday.
In a report, Switzerland’s Federal Statistical Office said that retail sales rose at an annualized rate of 1.9% in July, falling short of expectations for a 4.6% gain.
June’s figure was revised up to a 7.9% increase from a previously reported 7.4% gain.
Month-over-month, Swiss retail sales tumbled by 3.4% in July, after surging by a revised 7.6% in June.
Following the release of the data, the Swiss franc was down against the U.S. dollar, with USD/CHF edging 0.21% higher to trade at 0.8076.
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