Switzerland: Swiss consumers' sentiment improves
February 5, 2015
Consumer sentiment among Swiss households improved in the November-January period. According to the State Secretariat for Economic Affairs (SECO), the consumer confidence indicator rose from minus 11 points in the August-October period to minus 6 points in the November-January period. The improvement came as a surprise because the markets expected the index to fall to minus 13 points. As a result, the index is now closer to the 0-point threshold that separates optimistic consumers from pessimistic.
According to SECO, Q1’s result was partially influenced by the Swiss franc appreciation, because less than one quarter of the interviews were carried out after 15 January—the day when the Swiss National Bank decided to remove the euro-franc cap. As a result, SECO added that, “large differences of the answers between the two sub-periods (before and from 15 January onwards) can be observed in particular in the expectations concerning future economic activity and future price developments.”
Author: Dirina Mançellari, Senior Economist