Crude Oil ( ) Brent Crude ( ) Natural Gas ( ) S&P 500 ( ) PHLX Oil ( )
 January 26, 2016 - 4:53 PM EST
Print Email Article Font Down Font Up
Swiss UBS Consumption Indicator Climbs In December

BRUSSELS
(dpa-AFX) - Swiss consumer sentiment improved towards the end of last year and private consumption is likely to continue trending upward, the investment bank UBS said Wednesday.

The UBS Consumption Indicator rose to 1.62 points in December from 1.55 in the previous month, which was revised from 1.66.

"Consumer sentiment will likely start the year strong despite a seasonal increase in the unemployment rate in December," UBS said.

"As low interest rates provide little incentive to save, people tend to consume more."

Consumer prices are still falling, mainly due to lower energy prices and crude oil. Consumer spending should receive a boost as lower energy expenses leave more disposable income available.

Survey data from the

Zurich
-based KOF Swiss Economic Institute showed that retailers were looking forward to weaker business situation in December on the belief that consumers were increasingly shopping abroad and spending less due to economic conditions.

However, initial reports from retailers indicate that Christmas sales were better than anticipated, the UBS said.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer


Source: Equities.com News (January 26, 2016 - 4:53 PM EST)

News by QuoteMedia
www.quotemedia.com