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- Swiss UBS consumption indicator rose to 1.53 points in August
Swiss UBS consumption indicator rose to 1.53 points in August
The original July value was revised up to 1.46 points. The consumption indicator was altered after the Federal Statistical Office revised consumption figures for previous years in late August.
New car registrations in August boosted the UBS consumption indicator. August saw nearly 6% more new car registrations than the same month last year. The upward trend in overnight hotel stays by Swiss residents also helped. Overnight stays in July increased nearly 3% compared to July 2016. Overnight stays from January to July increased by almost 4% compared with the same period last year. Weak employment growth is still affecting the consumption indicator. In the second quarter, employment increased only 0.2%, well below the 1% average since 2000.
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