The UBS consumption indicator slipped for the first time in six months to 2.09 from 2.38. However, this figure is expected to rebound in coming months as companies have been increasing there hiring habits to meet orders fueled by rising demand. The indicator still stands above its long-term average signaling solid growth. Furthermore, unemployment continues to remain the lowest in four years. It declined to 2.8 percent, 0.1 percentage point lower than the previous month. The Swiss economics minister recently commented that economic growth might exceed the government?s forecast implying that the country shall soon experience another rate hike. The futures market is also indicating a rate hike as they were 3.11 percent up from 3.05 percent yesterday. The KOF Swiss Indicator should further help confirm this belief when it is released tomorrow.
[B][U]Last 24 hours:[/U][/B]
[B]- UBS Consumption Indicator[/B]
Actual: 2.09
Previous: 2.38 [B][U]Next 24 hours:
[/U][/B]-[B] KOF Swiss Leading Indicator[/B]
Consensus: 2.00
Previous: 1.96