In January, seasonally adjusted new car registrations were down 20% compared to the previous month, more than wiping out the rise in December. This trend was expected since higher carbon taxes apply from January 2015 when purchasing a car. For this reason, many new car purchases were brought forward to the old year, causing registrations in the new year to slump. The retail sector showed budding optimism at the start of the year. In January, the index assessing business conditions rose to 11 from –6 points. However, 94% of retailers submitted their assessment before the Swiss National Bank (SNB) abandoned the ... (full story)