Switzerland: Consumers show less pessimism in first quarter
February 7, 2013
The consumer confidence indicator published by the State Secretariat for Economic Affairs (SECO) stepped up from minus 17 points in the August-October period to minus 6 points in the November-January period, overshooting market expectations that had the indicator rising to minus 12 points. Despite the improvement, the index remains below the 0-point threshold, which indicates that pessimists outnumber optimists.
According to SECO, households were more optimistic about the future economic situation in the next 12 months as well as about their own financial standing and savings capacity in the coming year. On the other hand, consumers' assessment about the labour market for the next 12 months fell slightly compared to the three-month period ending October.
Author: Ricardo Aceves, Senior Economist