The UBS Consumption Indicator showed another slight decline in April, however, at 2.18 the indicator confirms last year’s high levels, and is still significantly above its long-term average. As such, it is a sign of continuing solid growth in consumer spending in Switzerland. The monthly UBS Consumption Indicator stood at 2.18 in April, after a revised 2.25 in March and 2.32 in February. It is still holding steady at a high level, way above the long-term average of 1.50, which it has exceeded for two years now. Although the release number is lower then the last month numbers, consumption in Switzerland remain high. Consumer spending can have a positive influence over the currency and inflation. Overall the release shows the Swiss Economic mood is in a good shape. The Swissy had strengthened after the German release, showing consumer confidence had dropped, although the news releases coming out of the Swiss economy are getting better and better.
Leave a comment
No comments yet.