Switzerland Consumer Confidence Q2 2019

Switzerland

Switzerland: Consumer sentiment deteriorates in the February–April period

May 3, 2019

Consumer sentiment among Swiss households deteriorated in the February–April period, with the index prepared by the State Secretariat for Economic Affairs (SECO) falling to minus to minus 6 points from minus 4 points in November-to-January. Nevertheless, the consumer sentiment index still stands slightly above its long-run average of minus 9 points, but below the 0-point threshold separating pessimism from optimism among consumers.

The decline in consumer confidence in February-to-April was primarily due to households’ more downbeat perspective on their financial position. Consumers were less optimistic about their ability to save, and likewise, remained hesitant about making larger purchases. Moreover, consumers were marginally less cheerful about the labor market, as their outlook on job security was less positive. On a brighter note, their assessment of the general economic situation improved in the period.

FocusEconomics Consensus Forecast expect private consumption to expand 1.2% in 2019, which is unchanged from last month’s forecasts. The panel expects private consumption to increase 1.3% in 2020


Author:, Economist

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Switzerland Consumer Confidence Q2 2019

Note: Consumer confidence Indicator.
Source: State Secretariat for Economic Affairs (SECO).


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