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Financial News: Swiss Consumption Indicator Falls Slightly

Swiss Consumption Indicator Falls Slightly

12/27/2017 - 02:26:00 (RTTNews)

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

The consumption index edged down to 1.67 in November from 1.68 in the previous month.

However, the index was above its long-term average in November, indicating solid consumption growth in 2018.

New car registrations gained 1.3 percent in November, just below the average established in previous months.

Looking ahead to 2018, UBS Chief Investment Office Wealth Management expects consumption to grow 1.3 percent.

Solid economic growth and moderately rising employment should continue to support private consumption despite rising inflation.

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