Falling car sales hit Swiss consumption index-UBS

Newswire

ZURICH, Feb 24 (Reuters) - Prospects for Swiss consumer spending declined again in January, UBS economists said on Tuesday, as a sharp fall in new car registrations offset slightly brighter consumer sentiment and retail activities. The UBS consumption indicator, based on five components measuring consumer behaviour, fell to 0.99 in January from 1.18 in the previous month and to below the year-long average for the fourth time in a row. "The prospects for Swiss consumer spending are ...

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