Wednesday , November 27 2024
Home / SNB & CHF / Swiss Consumer sentiment: No further recovery of consumer sentiment

Swiss Consumer sentiment: No further recovery of consumer sentiment

Summary:
Consumer sentiment in Switzerland has largely been stagnating since the summer. All sub-indices used for the calculation are still below their long-term average and none have improved significantly compared to this summer’s survey. Economic development and the situation on the labour market are seen as unfavourable. As of October, the consumer sentiment index stands at –13 points, almost at the same level as in July (–12 points). The sentiment remains gloomy, coming in well below the long-term average of –5 points. Expectations regarding general economic development have made little improvement compared to July, with the relevant sub-index standing at –14 points, indicating below-average momentum in the economy. Consumers were noticeably more negative in their

Topics:
Swiss Statistics considers the following as important: , , ,

This could be interesting, too:

Eamonn Sheridan writes CHF traders note – Two Swiss National Bank speakers due Thursday, November 21

Charles Hugh Smith writes How Do We Fix the Collapse of Quality?

Marc Chandler writes Sterling and Gilts Pressed Lower by Firmer CPI

Michael Lebowitz writes Trump Tariffs Are Inflationary Claim The Experts

Consumer sentiment in Switzerland has largely been stagnating since the summer. All sub-indices used for the calculation are still below their long-term average and none have improved significantly compared to this summer’s survey. Economic development and the situation on the labour market are seen as unfavourable.

As of October, the consumer sentiment index stands at –13 points, almost at the same level as in July (–12 points). The sentiment remains gloomy, coming in well below the long-term average of –5 points.

Expectations regarding general economic development have made little improvement compared to July, with the relevant sub-index standing at –14 points, indicating below-average momentum in the economy. Consumers were noticeably more negative in their rating of economic development in the last twelve months (–94 points) than in the previous survey.

The situation on the labour market is assessed as very unfavourable. The index on expected unemployment (112 points) remains close to the historic level reached during the financial and economic crisis. Job security (–122 points) has also received a worse assessment than in the previous survey for the third time in a row.

Respondents tended to make more negative statements about their own budget situation than in the summer. While expectations regarding their own financial situation (–7 points) have largely stagnated, the index on the financial situation in the last twelve months (–15 points) has dropped slightly. Both indices are significantly below their long-term average.

Accordingly, the likelihood of making major purchases remains well below average, with the relevant sub-index standing at –16 points. A key reason for this may be the high level of uncertainty.

Consumer sentiment index, 2011-2020

Swiss Consumer sentiment: No further recovery of consumer sentiment

- Click to enlarge

Download press release: No further recovery of consumer sentiment


Tags: ,
Swiss Statistics
The Swiss Federal Statistics Office publishes information on the situation and developments in Switzerland in a multitude of fields and plays a part in enabling comparisons at an internal level.

Leave a Reply

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