Tuesday , November 5 2024
Home / SNB & CHF / Pandemic takes a heavy toll on consumer confidence 

Pandemic takes a heavy toll on consumer confidence 

Summary:
Many Swiss are now doing their shopping online.  (Keystone) Switzerland’s consumer confidence index plummeted to a “historically low” level in April, according to a Wednesday statement from the Secretariat for Economic Affairs (SECO). The index fell to -40 points, compared to -9 points in January, when the previous survey was conducted. That marks the lowest results since the early 1990s. These results are provisional and are published exceptionally, SECO noted. Household expectations regarding the development of the economic situation have deteriorated significantly since the onset of the coronavirus pandemic. The corresponding sub-index plummeted to -84 points. Respondents are also pessimistic about their own budgetary situation. The indicator relating to future

Topics:
Swissinfo considers the following as important: , , , ,

This could be interesting, too:

Guillermo Alcala writes USD/CHF slides to test 0.8645 support with US inflation data on tap

Swissinfo writes Swiss central bank posts CHF62.5bn profit

Nachrichten Ticker - www.finanzen.ch writes Trump-Faktor und Marktbedingungen könnten für neuen Bitcoin-Rekord sorgen

Charles Hugh Smith writes Is Social Media Actually “Media,” Or Is It Something Else?

Pandemic takes a heavy toll on consumer confidence 

Many Swiss are now doing their shopping online.  (Keystone)

Switzerland’s consumer confidence index plummeted to a “historically low” level in April, according to a Wednesday statement from the Secretariat for Economic Affairs (SECO).

The index fell to -40 points, compared to -9 points in January, when the previous survey was conducted. That marks the lowest results since the early 1990s.

These results are provisional and are published exceptionally, SECO noted.

Household expectations regarding the development of the economic situation have deteriorated significantly since the onset of the coronavirus pandemic. The corresponding sub-index plummeted to -84 points.

Respondents are also pessimistic about their own budgetary situation. The indicator relating to future financial situation also dropped to a historic low (-24 points).

Survey participants indicated that it is not the right time to make big acquisitions (-48 points).

“These responses reflect, on the one hand, the impact of the closure of many businesses in the context of the extraordinary situation and, on the other hand, the very great uncertainty that currently prevails”, the office stated.


Tags: ,,
About Swissinfo
Swissinfo
SWI swissinfo.ch – the international service of the Swiss Broadcasting Corporation (SBC). Since 1999, swissinfo.ch has fulfilled the federal government’s mandate to distribute information about Switzerland internationally, supplementing the online offerings of the radio and television stations of the SBC. Today, the international service is directed above all at an international audience interested in Switzerland, as well as at Swiss citizens living abroad.

Leave a Reply

Your email address will not be published. Required fields are marked *