The Switzerland's consumption indicator improved only marginally in March as higher domestic demand for hotel accommodations was offset by the decline in new car registrations and a poorer climate in retail trade, the UBS bank said Wednesday.
The consumption indicator came in at 1.25, compared to a revised 1.24 level in February.
Prime snow conditions made skiing vacations more attractive, and raised overnight hotel stays during winter months. This fuels hope that things in the Swiss tourism industry could improve somewhat in the current year after a bad year in 2012.
Meanwhile, new car registrations collapsed in March. With 12.1 percent fewer new registrations for the month, the automotive market appears to be heading quite exactly toward the 10 percent decline for the full year 2013, it said.
Moreover, data showed that after a slightly positive trend in recent months, the situation in retail trade deteriorated again clearly in March.
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