UPDATE, February 2014
This number seems at odds with the weak private consumption in UBS’s Swiss economic forecast, that predicted Swiss private consumption to rise only by 0.9% against 2.8% in 2012.
Furthermore, the Swiss continue to create jobs: employment has risen by 2% in Q1/2013, 2.8% against the previous quarter. 4.15 Million employees from 4.10 Million last month, 4.04 Million a year ago (source).
Despite these two strong figures, the consensus forecast of Swiss GDP is only 0.2% in Q1/2013.
| UBS Swiss economic forecasts (March 2013)
|% change yoy in real terms||Forecasts UBS|
|Gross Domestic Product||593.0||2.2||-1.9||3.0||1.9||1.0||0.9||1.3|
Tags: Consumption indicator,Private Consumption,Swiss economy,UBS