Switzerland: Consumer confidence ticks down slightly in October
November 5, 2020
Consumer confidence came in at minus 13 in October, down from July’s minus 12 reading but significantly above the minus 39 recorded in April at the height of the lockdown. Sentiment was markedly weaker than the long-term average of minus 5. While expectations regarding the general economic situation improved somewhat in October from July, expectations regarding personal financial situations worsened. Sentiment regarding the labor market was extremely weak at close to its historic low. In short, consumers remain wary as the Covid-19 pandemic rumbles on.FocusEconomics Consensus Forecast panelists expect private consumption to rise 4.3% in 2021, which is up 0.5 percentage points from last month’s forecast, and to grow 2.5% in 2022.