Swiss consumer sentiment gives positive impressions in January

Swiss private consumption is set to grow robustly over the coming months as households' economic and financial expectations have improved considerably, results of a survey by the UBS bank showed Wednesday.

The UBS consumption indicator rose from 1.38 to 1.43 points in January and continues to signal solid growth in private consumption. Swiss consumers view the economic and financial situation with considerably more optimism than in the last quarter. New car registrations and domestic tourism have, however, fallen compared with the previous January. Economists had forecast a score of 1.5.
The bank attributed the rise in the indicator to a clear improvement in consumer sentiment as Swiss consumers view the economic and financial situation with considerably more optimism than in the last quarter.

Due to declining unemployment, and for the first time since the franc shock in January 2015, labor market data is no longer rated pessimistically, the UBS noted.
Though consumer sentiment has brightened with regard to national economic developments, the UBS bank remain cautious about consumption this year.
"There is still too much uncertainty on the capital markets given the upcoming elections in France and the unpredictability of the Trump administration," the bank said.