Corrects the original reading for March
An indicator of consumption among Swiss residents increased significantly from the previous month in April, helped mainly by a positive trend in new car registrations, improvement in consumer sentiment and higher demand for hotel accommodations, data from a survey by the UBS showed Wednesday.
The USB consumption indicator rose to 1.46 in April from 1.24 in March, which was revised down from 1.25.
Driving the consumption growth, the number of new cars registered exceeded expectations in April.
Among components of the headline indicator, consumer sentiment showed a modest improvement in the second quarter. Indicating the positive trend in sentiment, job security in particular was rated higher than in the previous quarter.
Meanwhile, the business situation in the retail trade remained at a very low level from a historical viewpoint, the survey showed.
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