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UBS Consumption Indicator: modest upward trend continues
The UBS Consumption Indicator rose from 1.61 to 1.64 points in July. The slight increase was driven by an improved assessment of business in the retail sector. This was the fourth rise in a row for the index following the declines in the first quarter due to the EURCHF exchange-rate shock.
Zurich, 26 August 2015 – The UBS Consumption Indicator increased again slightly in July. Although the retail sector's assessment of business was not as bad as in the previous month, retailers remained pessimistic. The poor outlook for the development of prices and sales weighed in particularly on the sector.
In contrast, the mood among consumers continued to worsen. The consumer sentiment index, compiled on a quarterly basis by the State Secretariat for Economic Affairs (SECO), declined to –19 points from –6 as all the index' sub-indicators worsened since April. The expected deterioration in both economic development and unemployment figures had a particularly severe impact on consumer sentiment.
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