UBS consumption indicator: Consumer sentiment worsens in May

From ubs.com

With a drop of 0.32 points in May, the UBS consumption indicator relinquished a significant proportion of the strong rise seen in the previous two months and sank to 1.05 points. The decline in business activity in the retail sector was primarily responsible for the fall. New car registrations also showed noticeable flattening. This is not surprising, since on a seasonally adjusted basis, the number of monthly registrations at over 28,000 has for several months been above the last high seen in 1999. The latest SECO estimates paint a surprisingly strong picture of the Swiss economy: Adjusted for ... (full story)