The Federal Statistical Office released its retail sales data for Switzerland on Tuesday. Retail sales in Switzerland were up at an annual rate of 0.2% in January, beating expectations for a 1.2% decline, after a 1.7% decrease in December. December's figure was revised down from a 1.6% drop.

Sales of food, beverages and tobacco declined at an annual rate of 1.0% in January, while non-food sales climbed 2.7%.

On a monthly basis, retail sales fell by 0.3% in January, after a 0.9% rise in December. December's figure was revised down from a 1.1% gain.

Sales of food, beverages and tobacco were flat in January, while non-food sales decreased 0.2%.