Expatica news

Indicators send mixed messages on economy

The latest UBS monthly consumer spending indicator for Switzerland deteriorates for the first time in six months as retail sales in September take a tumble. The bank, however, remains upbeat for the next few quarters about private consumption – the biggest driver of the Swiss economy – and a Lausanne forecaster upgrades its outlook for 2010 and 2011, while slashing its prognosis for 2012 amid myriad uncertainties.