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Switzerland GDP 0.5% y-o-y in Q2-23

- Switzerland's GDP grew by 0.5% year-on-year in Q2-23, showing a slight improvement compared to the previous quarter.
- However, the growth rate is 0.55 percentage points below both the one-year average and the long-run average, indicating a slower recovery for the economy.

Switzerland CPI inflation 1.55% y-o-y (consensus 1.5) in Aug-23

- Switzerland's CPI inflation in August 2023 slightly exceeded expectations, standing at 1.55% year-on-year, but marks the lowest level since December 2021.
- Compared to both the one-year and long-run averages, the current inflation rate falls significantly behind by 1.07 and 0.23 percentage points, respectively.

Switzerland retail sales -2.16% y-o-y in Jul-23

- Retail sales in Switzerland declined by 2.16% year-on-year in July 2023, the lowest growth rate since April 2023.
- The growth rate is 0.91 percentage points below the one-year average and 3.70 percentage points below the long-run average, indicating a significant deviation from typical performance.

Switzerland Retail Sales ex-Autos -2.16% y-o-y in Jul-23

- Switzerland's retail sales ex-autos experienced a significant decline of -2.16% year-on-year in Jul-23, marking the lowest growth since Apr-23.
- The negative growth rate is 0.65 percentage points below both the one-year and long-run average, indicating a sustained and concerning slowdown in consumer spending.