Swiss consumer sentiment remains positive despite crises

The Swiss continue to spend on leisure activities and eating out, the PostFinance report shows. Keystone-SDA

Despite the current tense economic situation, Swiss consumer sentiment remains positive. The Swiss spent more money in May than the previous year, particularly on restaurant visits and leisure activities, as shown by the latest figures released by PostFinance.

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The consumption indicator rose by 1.6% year-on-year in May, according to a press release issued on Monday by the subsidiary of state-owned Swiss Post. This continues the positive trend from recent months. The indicator had already risen by more than 1% in each of the first four months of the year.

The Swiss economy is currently going through a difficult phase, according to the statement. Its export industry in particular is suffering from the strong Swiss franc. But this is having little effect on the consumer behaviour of Swiss residents.

Private consumption is thus making an important contribution to stabilising the economy as a whole.

More spending on leisure and gastronomy

There is considerable spending on leisure activities and eating out. This is surprising, as these are often the first to be reduced in uncertain times, according to the report. Spending on “beauty & wellness” also increased slightly.

Everyday expenditure was stable. Spending on food rose, while spending on items such as books and teaching materials fell slightly.

There was also a slight decline in travel spending in May. According to the report, this was due to a decline in bookings. Spending on hotel accommodation, on the other hand, increased.

PostFinance analyses the anonymised payment transactions of 2.4 million customers every month.

Translated from German with DeepL/sb

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