Swiss Consumption Indicator Increased in September on Car Sales
A gauge of Swiss consumer demand rose in September, led by new car registrations.
The consumption indicator, which signals developments about three months ahead, advanced to 0.84 from 0.80 in August, Zurich-based UBS AG said in an e-mailed statement today.
“Consumers are increasingly benefiting from the passing on of continued exchange rate gains, which increases their purchasing power,” UBS said in the statement. “Consequently, we don’t expect consumer sentiment to worsen further.”
The consumer indicator is based on new car sales, retail sales, the number of domestic overnight stays by Swiss residents, consumer confidence and credit-card transactions made via UBS at points of sale in Switzerland.
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