ZURICH Feb 27 The UBS Swiss consumption indicator edged lower to 1.18 in January from a revised 1.32 in December, the Swiss bank's economists said on Wednesday.
Jan '13 Dec '12 Jan '12
Consumption indicator 1.18 1.32 (1.34) 0.93 (0.92)
* Numbers in brackets show the value as was originally reported
COMMENTS FROM THE UBS STATEMENT:
* Disappointing figures for new car registrations account for the decline.
* Business in the retail industry and consumer sentiment picked up significantly.
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.