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Optimism among consumers begins to wane

Consumer confidence in Switzerland has lost ground, according to a survey published by the State Secretariat for Economic Affairs (Seco) on Tuesday.

According to the survey from October, consumers are expecting less dynamic business activity and a higher unemployment rate for the coming months.

The results, from questions put to 1,100 households in a new consumer confidence index, also showed that expectations about the general economic situation were less optimistic than in July.

Estimates about personal financial situations were also lower. The only exception was consumers’ future potential to put money aside, which was believed to be comparable with July.

In January, April, July and October every year, Seco questions households about their subjective evaluation of the economic situation, financial situation of the household, inflation and job security.

The index has new questions which help in calculating a consumer confidence index more compatible with that of the European Union.

One is a question regarding expectations for unemployment and another is a question about the probability that the household would be able to save.

swissinfo.ch and agencies


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