Swiss UBS Consumption Indicator Rises In March

Swiss consumption increased in March driven by a climb in new car registrations, survey data from the UBS bank showed Wednesday.

The consumption index rose to 1.35 in March from 1.21 in the previous month. However, a continued decline in retailer sentiment has cast a shadow on the outlook for private consumption, the bank said.

The registration of new cars surged 24.0 percent in March from the previous month. In the first quarter of this year, registration grew 6.0 percent from the same period of the previous year.

Meanwhile, the retailer sentiment dropped notably in March. The corresponding index fell to -13 from -3 in the preceding month.

Retailers have not been this pessimistic since the end of 2011, another period when the franc appreciated significantly, the bank said.

The material has been provided by InstaForex Company – www.instaforex.com

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