Switzerland's consumption index dropped in May, reflecting a drop in business activity in the retail sector, data from UBS showed Tuesday.
The consumption indicator fell to 1.05 points in May from 1.37 in April. Nonetheless, UBS expects consumption to be the economy's most important support this year.
The strong franc, falling consumer prices and high immigration can lead to the consumption indicator underestimating actual consumption development, UBS said.
UBS has recently raised its forecasts for Swiss economic growth to 1.3 percent this year. The decline in the indicator in May does not alter the assessment of the Swiss economy, it said.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.