by Consumer sentiment among Swiss households is improving, according to Switzerland’s economic affairs office (SECO). © Rosaria De Marco | Dreamstime.comIn April 2021, the consumer sentiment index climbed back to -7 points after reaching a low of -40 in early 2020. The level of -7 is close to the pre-crisis level of early 2020 and close to its long term average of -5. The primary reason for the rise in consumer sentiment is a significant improvement in expectations regarding general economic development. This sub-index climbed from -18 points in January to +3 in April, the highest value recorded since autumn 2018, indicating that consumers are expecting the economic recovery to continue over the coming twelve months. Increasing likelihood of making major
Topics:
Investec considers the following as important: 3) Swiss Markets and News, 3.) Personal Finance, Business & Economy, Business & Economy, Editor's Choice, Featured, newsletter, Personal finance, Swiss consumer sentiment
This could be interesting, too:
Vibhu Vikramaditya writes Navigating the Slippery Slope: How Hoover’s Interventions Paved the Way for the Great Depression
Ryan McMaken writes Frédéric Bastiat Was a Radical Opponent of War and Militarism
Douglas French writes Millennials: In Costco We Trust
Vasil Georgiev writes Luftfahrtindustrie: Rückblick auf 2023 und Prognose für 2024
Consumer sentiment among Swiss households is improving, according to Switzerland’s economic affairs office (SECO).
In April 2021, the consumer sentiment index climbed back to -7 points after reaching a low of -40 in early 2020. The level of -7 is close to the pre-crisis level of early 2020 and close to its long term average of -5.
The primary reason for the rise in consumer sentiment is a significant improvement in expectations regarding general economic development. This sub-index climbed from -18 points in January to +3 in April, the highest value recorded since autumn 2018, indicating that consumers are expecting the economic recovery to continue over the coming twelve months.
Increasing likelihood of making major purchases has also helped to raise the consumer sentiment index. However, the relevant sub-index (-13) remains below its pre-crisis level of -8.
Households’ assessment of the labour market is also more positive than in previous quarters, but it remains considerably more negative than before the outbreak of the crisis. The index on expected unemployment (90 points) has improved considerably, but the index for job security has remained at a very low level since last autumn.
In addition, sub-indices on past (-12) and expected (-6) financial position both remain below average suggesting households will remain cautious.
More on this:
Government press release (in French) – Take a 5 minute French test now
For more stories like this on Switzerland follow us on Facebook and Twitter.
You Might Also Like
Weekly SNB Sight Deposits and Speculative Positions: SNB buying euros at high prices
2021-05-10
Update May 10 2021: SNB intervening. Sight Deposits have risen by +3.6 bn CHF, this means that the SNB is intervening and buying Euros and Dollars: The change is +3.6 bn. compared to last week.
Swiss upper house votes to raise pension age for women
2021-03-21
As Switzerland’s population ages the number of people paid state pension is rising relative to the number of workers funding it. Since 2014, more has been paid out than has been paid in. The most effective way to fix this imbalance is to raise the pension age. If the average life expectancy of a retiree is 15 years, then raising the pension age by one year will cut the cost by nearly 7%.
Switzerland’s low-income earners hit far harder despite lower Covid-19 infection rates
2021-02-28
The economic impact of the Covid-19 pandemic has hit low-income households far harder than those on high incomes, according to a study published by the KOF Swiss Economic Institute at ETH Zurich.
Switzerland’s record breaking deficit in 2020
2021-02-21
Switzerland’s federal accounts ended 2020 with a record-breaking deficit of CHF 15.8 billion. The deficit was caused by the pandemic.
Poverty in Switzerland: fresh data on those struggling to get by
2021-02-20
In 2019, the poverty line in Switzerland was CHF 27,348 (US$ 30,500) for a single person and CHF 47,712 (US$ 53,200) for a couple with two young children. The figures are calculated by SKOS based on the cost of living in Switzerland. People with incomes below these levels in Switzerland are considered to by living in poverty.
Middle class shrinks in Switzerland
2021-02-12
Statistics published at the end of January 2021 show a fall in the percentage of the population included in the definition of middle class in Switzerland.
Swiss rents and property prices up in 2020 due to pandemic
2021-01-08
The pandemic had a significant impact on Swiss real estate prices in 2020, according to industry experts.
Switzerland’s population happy with the health system, according to survey
2020-12-14
Switzerland’s health system is rated highly by the public, according to the latest survey conducted in eleven countries by the Commonwealth Fund Foundation.
Tags: Business & Economy,Editor's Choice,Featured,newsletter,Personal finance,Swiss consumer sentiment