ZURICH Jan 30 The UBS Swiss consumption indicator rose to 1.34 in December from 1.23 in November, the Swiss bank's economists said on Wednesday.
DEC '12 NOV '12 DEC '11
Consumption indicator 1.34 1.23 0.94 (0.92)
* Numbers in brackets show the value as was originally reported
COMMENTS FROM THE UBS STATEMENT:
* The increase is mostly due to a greater number of hotel stays by Swiss residents.
* No improvement was reported in the retail industry, where business conditions still stagnate at a low level.
BACKGROUND ON THE INDICATOR:
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.