Swiss May consumption index falls on car sales-UBS

Newswire

ZURICH, June 30 (Reuters) - The UBS consumption index for Switzerland fell steeply in May to its lowest level since 2004, hit by lower car sales, with the outlook becoming increasingly negative, the Swiss bank said on Tuesday. The indicator, based on five subcomponents measuring consumer behaviour, fell to 0.77 from 0.91 in April, UBS said in a statement, adding that the indicator had now been under its long-term average of 1.50 for eight months. "At the current level, the UBS ...

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