The UBS consumption indicator rose to 0.92 in December from 0.78 in November. The bank said its economists are confident that the consumption indicator has bottomed out and believe it could rise over the course of the year.
As in previous months, the indicator was boosted by the continually high volume of new car registrations, which grew 7.4 percent year-on-year in December compared to 13.9 percent increase in November.
Another factor in the increase was the retail sector's performance, which, although still at -12, showed a recovery from the previous months, the bank said.
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