date:Mar 27, 2014
It is likely to remain at this level until at least mid-year.
In Switzerland, retail tourism will stagnate at a high level and import pressure will persist. Somewhat more positive consumer behaviour is realistic in the US. Significant growth is expected again in the emerging markets of Chile and Tunisia, although this will be in volatile local currencies. Consumer sentiment will remain muted in southern Europe, with Spain showing clear signs of a recovery. Emmi does not anticipate any significa