Swiss UBS Consumption Indicator Declines In August

UBS Consumption Indicator in Switzerland according to data released Tuesday, the highest ever in nine years, fell in August.

The report, the Swiss bank UBS consumption indicator has been revised downwards the figure 29.1 against 28.1 in July fell by 0.79 points in August, he said 0:49.

The current level of 0.79, the UBS consumption indicator 2002/03 and 2008/09 only slightly higher in the two previous recessions.

Registrations of new vehicles, retail sales, card transactions during the night in hotels in Switzerland, the indicator of consumer confidence and credit: the UBS consumption indicator is calculated by the five sub-indicators.

Poor business records in the retail sector, despite the increase in new vehicles led the UBS consumption indicator.

Dampened consumer willingness to spend a strong franc, but also increased the purchasing power of the population of Switzerland.

USD / CHF 0.9007 Swiss franc and U.S. dollar fell 0.1% to trade a little higher compared to that after the publication of data.

Real              0.79

Prognosis     Above 1.28

UBS Consumption Indicator is the main indicator of private consumption. This indicator, consumer confidence, consumer spending, tourism, sales of new cars and commercial activity, including the five indicators of a reading.

Less than expected decline in negative reading / CHF should be taken to a reading higher than expected, positive bull / must be taken to the Euro.