Switzerland Consumer Confidence Q1 2017

Switzerland

Switzerland: Swiss consumer sentiment at over two-year high in Q1

February 7, 2017

Consumer sentiment among Swiss households improved significantly at the outset of the year, but remained below the threshold of 0 points separating pessimistic from optimistic sentiment. According to the State Secretariat for Economic Affairs (SECO), the consumer confidence indicator recorded minus 3 points in the November-January period, which was a significant improvement on the minus 13 points registered in the August-October period and the highest result in two-and-a-half years.

According to SECO, consumers were more upbeat about the state of the economy and see it improving further going forward. Regarding the labor market, survey participants see job security having increased slightly and project a weaker rise in the number of unemployed workers in the next 12 months than they did in the last survey. The brighter picture was also reflected in households’ assessment of their financial situation, which they see strengthening going forward.

Panelists polled by FocusEconomics expect private consumption to expand 1.2% in 2017, which is unchanged from last month’s projection. For 2018, the panel expects private consumption to increase 1.4%.


Author: Marlène Rump, Senior Data Analyst

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