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.
Author: Lindsey Ice, Economist