The Federal Statistical Office released its retail sales data for Switzerland on Monday. Retail sales in Switzerland were down at an annual rate of 3.1% in November, missing expectations for a 0.3% rise, after a 0.6% decrease in October. October's figure was revised up from a 0.8% drop.

Sales of food, beverages and tobacco fell at an annual rate of 0.4% in November, while non-food sales dropped 1.9%.

On a monthly basis, retail sales slid by 0.8% in November, after a 0.3% rise in October.

Sales of food, beverages and tobacco rose 0.1% in November, while non-food sales decreased 1.3%.