Switzerland spent more in March again

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The consumption indicator of the bank showed a nominal increase of 6.0 percent in private consumer expenditures in March compared to the previous year. In February, the indicator rose 4.0 percent, but in January it was minus 1.1 percent. In the last months of 2022, in November and December, the indicator had grown by 2.3 percent and 0.5 percent, respectively.

However, the report says some of the increase in March was due to higher price levels. However, Swiss consumers’ willingness to spend significantly higher than in the previous year can be observed, especially in the travel and leisure sector.

Given the bleak economic situation and the weakening industrial sector, rising consumer spending should have an encouraging and supportive effect on economic development, according to analysis by postfinance economists.

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