Switzerland: Consumer confidence stabilizes in the fourth quarter
November 6, 2012
In the August-October period, the consumer confidence indicator published by the State Secretariat for Economic Affairs (SECO) remained unchanged at minus 17 points, which contrasted market expectations that had the index deteriorating to minus 21 points. Consequently, the index remains below the 0-point threshold, which indicates that pessimists outnumber optimists. According to SECO, consumers were more pessimistic regarding their employment prospects in the next 12 months. On the other hand, households expect their savings possibilities to improve in the months ahead. In addition, consumers' perception of the future economic developments as well as their personal financial situation remained broadly unchanged over the May-July period.
Author: Ricardo Aceves, Senior Economist