UBS consumption index falls, spending still strong

Newswire

ZURICH, Aug 29 (Reuters) - UBS's consumption index for Switzerland edged down in July from a five-year high in the previous month but the outlook for consumer spending remained bright, the Swiss bank's economists said on Tuesday. The index, based on five sub-indicators measuring consumer behaviour, fell to 1.88 from 2.12 in June, reflecting sharply lower growth in new car registrations and softer retail sales. "Despite the drop the number is still well above its long-term average of ...

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