Switzerland: UBS Consumption Indicator falls in November

FXstreet.com (Barcelona) - The Swiss Consumption Indicator released by UBS decreased to 0.81 points in November, following 0.90 points registered the previous month.

According to the official publication: “The current index implies that private consumption growth amounted to 0.8% – the current UBS forecast for private consumption growth in 2012, however, is slightly higher at 1.1%. The reason for this discrepancy might be that the consumption indicator partly reflects the pessimistic outlook of the retail sector, which is suffering from falling prices and thus falling earnings, as well as the fact that people are doing more of their shopping abroad.”