UBS Consumer Indicator Depicts sideways sales in Switzerland
UBS consumption indicator in June remained 1.44, a drop from 1.45 in previous month. This is second time in row that indicator is going sideways, an alert for automotive industry.
“The 27.6% year-on-year drop in registrations of new cars in June is due mainly to special factors from the corresponding period the previous year. The introduction of CO2 sanctions on July 1, 2012 spurred a rash of registrations in June, particularly of vehicles with high CO2 emissions. This raised the number of new cars registered in that month an unusual amount. In spite of this factor, however, this year’s June figures are unsettling news for car dealers. Although registrations for new cars increased by 6.1% from the previous month, the negative trend dating from the start of the year continues once figures are seasonally adjusted.”
The UBS Consumption Indicator gives a scene of consumption trends in Switzerland before three months of official figures. UBS calculates indicator by five consumer-reloated parameters : new car registrations, business activity, domestic overnight hotel stays, consumer sentiment index and credit card transactions made via UBS in Switzerland.