Switzerland: Consumer confidence improves in second quarter
May 21, 2012
In the February-April period, the consumer confidence indicator published by the State Secretariat for Economic Affairs (SECO) rose to minus 8 points from minus 19 points recorded in the three-month period to January and overshot market expectations that had the index improving to minus 15 points. The reading represents the highest level seen in one year. Despite the improvement, the index remains below the 0-point threshold, which indicates that pessimists outnumber optimists. According to SECO, the survey conducted between February and April showed that consumers were more optimistic about the general economic situation in the next 12 months. In addition, consumers showed more optimism regarding future developments in the labour market in the year ahead. Meanwhile, future developments in consumers' personal financial position for the next 12 months remained virtually unchanged over the previous month.
Author: Ricardo Aceves, Senior Economist