For October
Provided by: UBS
Official Release: Media Release

From the Release: "The UBS consumption indicator rose slightly in October, but this does not represent a trend reversal. The indicator has languished at low levels this year, and with unemployment on the rise, consumption spending is likely to suffer. UBS economists do not expect consumer spending to recover until the second half of next year.

For September
Provided by: UBS
Previous Release: Media Release

For August
Provided by: UBS
Official Release: Media Release

From the Release: "The economy is exerting pressure on consumer spending. The UBS consumption indicator has weakened once again in August and at 0.66 is clearly below its long-standing average of 1.5. Contributing to the renewed decline in the UBS consumption indicator are in particular the flagging consumer confidence and the continued decline in car sales and hotel overnight stays. Despite the current economic weakness, the indicator’s positive level hints at a modest increase in Swiss private consumption in August. However, the environment remains difficult. The rise in unemployment until the end of the year, both as a result of economic developments and seasonal, may well further dampen consumer spending. UBS therefore expects a further weakening of private consumption in the coming months. After a growth forecast of 0.8% in 2009, UBS is expecting a clearly smaller increase for 2010 of 0.1%."

For May
Provided by: UBS
Official Release: Media Release

From Release: The UBS consumption indicator, which is calculated monthly, fell in May from 0.91 to 0.77, thereby continuing its downward trend. The indicator has thus remained below its long-term average of 1.50 for eight consecutive months now.
At its current level, the UBS consumption indicator signals that Swiss consumer spending is continuing to increase slightly. The prospects are, however, becoming increasingly gloomy. In the course of the economic downturn, unemployment is likely to increase significantly in the coming months, which will have a negative impact on consumption tendencies. On a more positive note, falling inflation, especially with regard to energy sources, is likely to bolster purchasing power and hence consumer spending. Following a 1.7% real increase in consumer spending last year, UBS forecasts a more modest increase of 0.4% for 2009.

For April
Provided by: UBS
Official Release: Media Release

From the Release: "The monthly UBS consumption indicator fell in April from 0.99 to 0.92, resuming the downtrend following the rise in March. The indicator has thus remained below its long-term average of 1.50 for seven months. The decline in April is to a large extent due to the decline in new car registrations, which have fallen by 12.9% compared to the same period last year, and the gloomy consumer sentiment. The seasonal decline in the number of domestic overnight stays in hotels by Swiss nationals has also had a negative effect. However, improved business activity in the retail sector has prevented a stronger decline in the UBS consumption indicator.

At its current level, the UBS consumption indicator signals that Swiss consumer spending is continuing to increase slightly. The prospects are, however, becoming increasingly gloomy. In the course of the economic downturn, unemployment is likely to increase significantly in the coming months, which will have a negative impact on consumption tendencies. However, on a more positive note, falling inflation, especially with regard to energy sources, is likely to bolster purchasing power and hence consumer spending. Following a 1.7% real increase in consumer spending last year, UBS forecasts a more modest increase of 0.4% for 2009."