Swiss UBS Consumption Indicator Rises In November

Switzerland’s consumption increased in November, driven by the less gloomy outlook in the retail sector and the growth in new car registrations, figures from the UBS bank showed Wednesday.

The consumption indicator climbed to 1.66 in November from 1.63 in the preceding month, pointing to further growth in private consumption in the months ahead.

Retail sector showed an encouraging trend in November, with the index values for sales slowly approaching the levels seen prior to the abandonment of the EURCHF minimum exchange rate, the agency said.

Car registrations grew 11.0 percent in November from a year ago. At the same time, tourism sector witnessed a more dejected movement during the month.

The material has been provided by InstaForex Company –