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The bank’s consumption indicator shows a 4.0 percent nominal increase in private consumer expenditures in February compared to the previous year. In January, the indicator was still showing minus 1.1 percent. In the last months of 2022, in November and December, the indicator again showed growth of 2.3 percent and 0.5 percent, respectively.
According to the report, daily usage spending increased again in February for the first time since the middle of last year. For example, there has been an increase in household products and public transport expenditures.
The latter is said to be related to the increased mobility of the Swiss population. Swiss willingness to travel increased significantly in February. It is said that this is noticeable both in spending on hotels and spending on food at foreign restaurants.
But Mr and Mrs Swiss also spent more on beauty and wellness products in February than in previous months. Especially watch and jewelery expenditures increased, as it did last month. More money was also spent on clothing, according to Postfinance.
Post-Bank anonymously evaluates the payment transactions of 2.5 million customers every month. The consumption indicator calculated from here shows the consumer expenditures on a yearly basis, adjusted for the effects of sales days and public holidays. According to Postfinance, it’s the same as retail sales figures published by the Federal Statistics Office (BFS), but can be used faster.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
