UBS survey finds Swiss consumer confidence jumped in March to highest level since mid-2008

Swiss consumer confidence jumped in March: survey

GENEVA — Consumer confidence in Switzerland jumped in March to the highest level since the economic crisis began in mid-2008, according to a survey published Tuesday by UBS AG.

An index used by the bank to track domestic consumption rose to 1.71 in March from 1.2 the previous month, UBS said.

Among the factors used to calculate the index is the rate of new car registrations, which increased by 20 percent.

“The steep rise of the consumer index points toward an accelerated growth in consumption and confirms UBS’s optimistic economic forecast,” the bank said.

UBS expects Switzerland’s economy to grow by 2.5 percent this year.