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Swiss private consumption likely to expand strongly in 2018

Switzerland’s UBS consumption indicator came in above its long-term average in November at 1.67 points. This indicates strong consumption growth next year. Owing to strong economic growth, private consumption would likely carry on growing in spite of rising inflation.

The indicator dropped slightly in the month from 1.68 points. Values from earlier months were upwardly revised by a considerable margin in response to surprisingly solid summertime growth in overnight stays. New car registrations rose 1.3 percent in November, slightly below the average established in earlier months.

According to UBS Chief Investment Office Wealth Management, consumption is expected to expand 1.3 percent next year. Strong economic growth and moderately rising employment should continue to underpin private consumption. However, rising inflation has negatively impacted real wage growth and by extension, private consumption growth. Furthermore, third-quarter employment growth continues to be below the long-term average of 1.1 percent, only reaching 0.5 percent.

At 13:00 GMT the FxWirePro's Hourly Strength Index of Swiss Franc was highly bearish at -110.496, while the FxWirePro's Hourly Strength Index of US Dollar was slightly bearish at -68.2596. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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January 19 15:30 UTC Released

USECRI Weekly Annualized

Actual

4.5 %

Forecast

Previous

3.3 %

January 19 15:30 UTC Released

USECRI Weekly Index

Actual

150.3 %

Forecast

Previous

147.6 %

January 21 21:00 UTC 280280m

KRPPI Growth YY

Actual

Forecast

Previous

3.1 %

January 21 21:00 UTC 280280m

KRPPI Growth

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Forecast

Previous

-0.1 %

January 21 23:00 UTC 400400m

JPReuters Tankan DI

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Forecast

Previous

27 k

January 22 07:00 UTC 880880m

NOIndus Confidence

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Forecast

Previous

2 0

January 22 08:00 UTC 940940m

TWJobless Rate

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Forecast

Previous

3.69 0

January 22 08:00 UTC 940940m

TWExport Orders YY

Actual

Forecast

Previous

11.6 0

January 22 09:00 UTC 10001000m

GRCbank C/A YY

Actual

Forecast

Previous

-0.624 0

January 22 13:30 UTC 12701270m

USNational Activity Index

Actual

Forecast

Previous

0.15 %

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