Investing.com – Switzerland's UBS consumption indicator declined in July, falling to its lowest level since December 2009, data showed on Tuesday.
In a report, Swiss bank UBS said its consumption indicator fell to 1.29 in July, down from 1.52 in June, whose figure was revised up from 1.48.
The UBS consumption indicator is calculated from five sub-indicators: new car registrations, retail sales, overnight stays in hotels by Swiss citizens, the consumer sentiment index and credit card transactions.
July's decline was due to a poor performance in the retail sector and declining consumer sentiment.
The report added that the negative mood can be explained by the crisis reports that have repeatedly emerged in recent months from Europe and the United States.
Following the release of the data the Swiss franc was down against the U.S. dollar, with USD/CHF dipping 0.09% to trade at 0.8166.
In a report, Swiss bank UBS said its consumption indicator fell to 1.29 in July, down from 1.52 in June, whose figure was revised up from 1.48.
The UBS consumption indicator is calculated from five sub-indicators: new car registrations, retail sales, overnight stays in hotels by Swiss citizens, the consumer sentiment index and credit card transactions.
July's decline was due to a poor performance in the retail sector and declining consumer sentiment.
The report added that the negative mood can be explained by the crisis reports that have repeatedly emerged in recent months from Europe and the United States.
Following the release of the data the Swiss franc was down against the U.S. dollar, with USD/CHF dipping 0.09% to trade at 0.8166.