29.11.2017

Swiss consumer confidence: October remains stable

400Switzerland's consumption indicator remained broadly unchanged in October but suggested that private spending is growing at a solid pace in the fourth quarter, the UBS investment bank said Wednesday. The indicator inched up to 1.54 points in October from revised 1.51 in September.

New passenger car registrations and domestic tourism improved in October. By contrast, the index of consumer confidence measured by the State Secretariat for Economic Affairs stagnated. In October it was -2 points, virtually unchanged from the previous quarter's -3.

Although consumers assess the labor market more positively, expectations with regard to the general economic situation have become slightly gloomier.

UBS projected growth in private consumption at 1.3 percent both for this year and for next, marginally below its long-term average.

The weaker Swiss franc is benefiting Swiss retailers indirectly by making shopping outside the country more expensive for consumers. The economy is also likely to be buoyed in the coming year due by Europe's strong economic showing, the bank said.

The UBS Consumption Indicator signals private consumption trends in Switzerland with a lead time of one to three months on the official figures. At more than 50%, private consumption is by far the most important component of Swiss GDP. 






Events


Semptember 2015
  • 22
    Jan

    The caspian week conference is a meeting point of visionaries, market leaders and experts with the f

  • 22
    Jan

    The climate transition creates opportunities and risks, and financial institutions and corporations

  • 22
    Jan

    Seit über 30 Jahren ist die ZfU International Business School Gastgeber für die angesehensten Inve

  • 30
    Jan

    Over 150 Fintechs CEOs from all over the world will be in both panels & interviews and on this stage

  • 31
    Jan

    From 2018 onwards, Switzerland’s financial fair will only be open to professional investors. This

See All

newsletter

Updates and news from MarketPlus