On Jan 10th 2011 at 8.15GMT the Swiss Federal Statistical Office published the November Retail Sales report.
Previous (October) value 3.5 %, November forecast 2.2 %
Retail Sales characterize the consumer spending value. As Switzerland is traditionally considered a country of low unemployment, its retail sales volume is almost always high.
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The index value is hard to predict but it’s a good guideline for the currency market. Growing consumer demand provokes an increase in the volume of products and the commodity markets and consequently stimulates the production of these products. The info is most valuable during the reversal points of economic cycles.
Consumer demand is the major engine of any economy. It is the growth of consumer demand that starts the “wheel” of production. Extra funds are always needed to expand the production of any products. It leads to an increase in lending volumes, increasing the interest in the national currency. Even an insignificant change in the index value (like 0.4%) is a good signal for Forex traders.
The index values are published by the Swiss Federal Statistical Office 45 days after the reporting month is over.
