Investing.com – Switzerland's UBS consumption indicator rose in June, to its highest level since July 2008, data showed on Tuesday.
In a report, Swiss bank UBS said its consumption indicator rose 1.81 in June, after declining to 1.71 in May, whose figure was revised down from 1.74.
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.
The report said June's increase was due to a rise in the number of new car sales but noted disappointing results in the retail sales sector overall.
Following the release of the data the Swiss franc was down against the U.S. dollar, with USD/CHF gaining 0.32% to hit 1.0520.
In a report, Swiss bank UBS said its consumption indicator rose 1.81 in June, after declining to 1.71 in May, whose figure was revised down from 1.74.
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.
The report said June's increase was due to a rise in the number of new car sales but noted disappointing results in the retail sales sector overall.
Following the release of the data the Swiss franc was down against the U.S. dollar, with USD/CHF gaining 0.32% to hit 1.0520.