Switzerland: Swiss consumers' sentiment deteriorates in Q3
August 6, 2015
Consumer sentiment among Swiss households deteriorated in the May-July period. According to the State Secretariat for Economic Affairs (SECO), the consumer confidence indicator tallied minus 19 points, which was a significant deterioration over the minus 6 points tallied in the February-April period. As a result, the index dropped further below the 0-point threshold that separates optimistic consumers from those who are pessimistic.
According to SECO, Q3’s result came on the back of a broad-based deterioration. Consumers’ expectations regarding future economic developments slipped from minus 8 points in Q2 to minus 25 points in Q3. In addition, households were less optimistic about their future financial situation compared to the previous quarter. Moreover, consumers expected a subdued development in prices over the next year, although less pronouncedly than in the second quarter.
Author: Dirina Mançellari, Senior Economist