ZURICH: The UBS Swiss consumption indicator rose slightly to 1.38 points in July from a revised 1.3 points in June, the Swiss bank’s economists said on Wednesday. July ’17 June ’17 July ’16 Consumption indicator 1.38 1.3 (1.38) 1.45 * Numbers in brackets show the value as was originally reported COMMENTS FROM THE UBS STATEMENT: * The results suggested that private consumption in Switzerland is growing at a subdued pace, UBS said. * The indicator was held back by the relatively weak growth in employment and the fall in new car registrations compared with the previous year. * The fall in the value of the franc may have a slightly positive effect on consumption.
The UBS Consumption Indicator signals private consumption trends in Switzerland with a lead time of one to three months on the official figures. At more than 50 percent, private consumption is by far the most important component of Swiss GDP. UBS calculates this leading indicator from six consumer-related parameters: new car registrations, business activity in the retail sector, the number of domestic overnight hotel stays by Swiss residents, the consumer sentiment index, employment figures and credit card transactions made via UBS at points of sale in Switzerland. With the exception of the consumer sentiment index and employment figures, all of this data is available monthly.
