Swiss consumers buoyed by economic upturn

Swiss consumer morale has improved as the Swiss took a more optimistic view of the economy and their finances, a survey has found.

This content was published on November 5, 2009 minutes

The consumer sentiment index also revealed a less pessimistic view of job security, with experts taking its findings as a further sign of imminent economic recovery.

The quarterly index, based on a survey conducted in October among around 1,100 households, rose from -39 points in July to -14 points in October, the State Secretariat for Economic Affairs (Seco) said on Thursday.

"This brightening of consumer sentiment is mainly due, on the one hand, to more optimistic expectations about the general economic situation in the next 12 months and on the other, less pessimistic views of the further development of unemployment," it said in a statement.

Most economists had expected the index to dip as unemployment has been rising over the past couple of months. In September it increased for the fourth consecutive month, rising from 3.8 per cent to 3.9 per cent.

All three sub-components of the index improved: consumers' assessment of the past, future development of their finances and their assessment of past economic development. and agencies

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