Weak prospects in Switzerland: Consumer confidence remains weak

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According to the statement made by the State Secretariat for Economic Affairs (Seco) on Monday, the index was -42 points in February; This corresponds to a 1 point decrease compared to January and a 7 point decrease compared to the previous year. The previous low in the index’s sentiment was last October, when it fell to -53 points.

As Seco noted, for example, participants evaluate the expected economic development more negatively than they did a year ago. The relevant index decreased from -16 points in February 2023 to -32 points.

As for their financial situation, the surveyed consumers also look at the future a little more cautiously compared to the same period last year (-40 points after -31 points). However, the tendency to make larger purchases has increased compared to the previous year. Here the index reached -37 points after -42 points in the same period last year.

The basis of the consumer sentiment index has so far been surveys conducted mostly by telephone in January, April, July and October. Now Seco wants to publish the index every month instead of quarterly as before. The survey will now be conducted exclusively online and on an ongoing basis, rather than during the first three weeks of the quarter as before. (SDA)

Source :Blick