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SWITZERLAND'S CONSUMPTION QUAGMIRE.
(From Market - Europe)
Swiss private sector consumption stagnated as EU commercial activity took a downturn in recent years. With domestic sales stalled and unemployment on the rise, it looks as though 2004 will bring anemic gains in private demand
Switzerland's unemployment rate of just under 4 percent may be low compared to the level in neighboring nations, but it is considerably higher than what the citizenry is used to. As a result, consumer confidence is at low ebb and that is putting downward pressure on demand for high-end goods and services. Unemployment is likely to rise through the first half of 2004 due to an unsavory mix of high labor costs and low productivity
Sales of high-end durables should experience minimal growth during the first quarter of next year, settling into a range of 2 to 4 percent year-on-year during the second half. Household expenditure on semi-durable ...
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The consumption of durable goods like automobiles and personal...total spending, expenditure on durable goods, including furniture and home...hand, the consumption of semi-durable goods such as clothing increased by...
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