ZURICH, Nov 27 (Reuters) - The UBS Swiss consumption indicator rose 0.27 points to 1.31 points in October from a revised 1.04 (1.07) points in September, the Swiss bank’s economists said on Tuesday.
Oct ‘12 Sept ‘12 Oct ‘11 Consumption indicator 1.31 1.04 (1.07) 0.90
* Numbers in brackets show the value as was originally reported
* The increase was partly attributable to new car registrations, which experienced a recovery in October following very weak figures for September.
* The weaker business activity in the retail sector in October prevented the consumption indicator from rising more substantially.
* In the retail sector, sentiment is subdued due to the drop in prices. Consumer sentiment is probably suffering from the string of bad news from outside Switzerland.
* New car registrations are subject to very strong seasonal fluctuations.
The UBS Consumption Indicator is calculated on the basis of five sub-indicators: new car registrations, business activity in the retail sector, the number of domestic overnight stays in hotels by Swiss residents, the consumer sentiment index, and credit card transactions via UBS at points of sale in Switzerland.