The Federal Statistical Office released its retail sales data for Switzerland on Tuesday. Retail sales in Switzerland were down at an annual rate of 1.6% in December, after a 1.7% decrease in November. November's figure was revised up from a 3.1% drop.

Sales of food, beverages and tobacco rose at an annual rate of 0.1% in December, while non-food sales dropped 2.3%.

On a monthly basis, retail sales climbed by 1.1% in December, after a 0.6% fall in November. November's figure was revised up from a 0.8% decline.

Sales of food, beverages and tobacco rose 0.4% in December, while non-food sales increased 0.7%.