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Financial News: Swiss Consumption Indicator Falls Slightly In December

Swiss Consumption Indicator Falls Slightly In December

01/31/2018 - 05:27:00 (RTTNews)

(RTTNews) - Swiss consumption indicator dropped slightly in December, but remained well above its long-term average, data from the investment bank UBS showed Wednesday.

The consumption index dropped to 1.69 in December from 1.73 in November, which was revised up from 1.67.

Despite this slight fall, the indicator stood above the long-term average, conveying an optimistic snapshot of Swiss private consumption.

An improvement in retail business and an increase in the number of overnight stays since the weakening of the Swiss franc in the summer of last year supported the consumption indicator.

At the same time, weaker figures for new car registrations had a negative impact in December.

For this year, UBS economists expect consumption growth of 1.4 percent, supported by falling unemployment and the solid economic trend.

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