Consumers pessimistic about their finances
Consumer confidence in Switzerland has dropped for the second quarter in a row, according to the State Secretariat for Economic Affairs (Seco).
Seco said the Swiss had become more pessimistic about the general state of the Swiss economy, their own financial situation over the past 12 months and the future.
Seco said overall consumer confidence dropped 17 points in July compared with the April survey.
The Swiss were most pessimistic about what the future holds for the Swiss economy over the next 12 months (-45 compared with -19 in April). They were also more worried in July about their own financial means (-9 compared with +7) over the same period.
Seco added that the Swiss had also become much more reluctant to make large purchases (-23 compared with -5).
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