Switzerland: Consumers are slightly less pessimistic going into Q4
November 3, 2016
Consumer sentiment among Swiss households improved ahead of the fourth quarter, though it remained firmly pessimistic. The result was in line with market expectations. According to the State Secretariat for Economic Affairs (SECO), the consumer confidence indicator recorded minus 13 points in the August-October period, which was above the minus 15 points registered in the May-July period. Despite the slight improvement, the reading remains firmly entrenched below the 0-point threshold that separates optimistic from pessimistic consumers.
According to SECO, consumers’ view of price levels improved in Q4 from the previous quarter and prices are expected to increase over the next twelve months, reflecting that Swiss consumers are taking into consideration the gradual economic recovery. In fact, consumers’ outlook for the coming twelve months brightened remarkably. Their assessment of the current situation was also better than in August’s survey. On the contrary, the participants indicated heightened insecurity about their jobs.