Swiss consumption dropped slightly in April, ending an upward trend that had lasted since January, survey data from the UBS bank showed Wednesday.
The consumption index fell to 1.25 in April from 1.34 in the previous month. Although the indicator remains above February’s figure, its current level is relatively modest, the bank said.
The number of new car registrations dropped in April as compared to March. This resulted a downward pressure on the headline index. But, demand for new cars was still strong and in April it again had a supportive effect.
At the same time, retailers’ assessment of the business situation was again clearly pessimistic in April and the corresponding index remained stuck at -13 points.
The material has been provided by InstaForex Company – www.instaforex.com