Switzerland: Swiss consumers' sentiment inches down in Q2
May 3, 2016
Consumer sentiment among Swiss households weakened somewhat and contrasted expectations of a further gain. According to the State Secretariat for Economic Affairs (SECO), the consumer confidence indicator fell to minus 15 points in the February-April period from the minus 14 points registered in the November-January period. The reading contrasted the minus 12 points the markets had expected and remained below the 0-point threshold that separates optimistic consumers from those who are pessimistic. As a result, the consumer confidence index has been lingering below the long-term average of -9 points for four consecutive quarters.
According to SECO, consumer’s view of the price level improved in Q2 over the previous quarter. Prices are expected to increase slightly over the next twelve months. The assessment of the current situation of the economy compared to last year was broadly stable, while the participants are feeling less confident about their future employment situation.