Switzerland: Consumer confidence remains in negative territory in Q3
According to an early release of Q3 data from the State Secretariat for Economic Affairs (SECO), Swiss consumer sentiment came in at minus 12.0 in August (June: minus 39 points). This marked the best performance since March, but the reading remained well below the 100-point threshold that separates pessimism from optimism among consumers.
The improvement was broad-based, with consumers markedly less pessimistic about the general economic situation, their expected financial situation and their ability to make major purchases. However, households’ view on their past financial situation has soured slightly since Q2, amid subdued employment prospects and fragile job security.