Consumer sentiment hits five-year high
Swiss consumers have become more upbeat over the last few months, good news for retailers as the findings come at the start of the Christmas shopping season.
The State Secretariat for Economic Affairs (Seco) said on Thursday that the consumer sentiment index rose to +13 points in October from +12 in July. Before the start of the year, the index was at –15 points and entered the plus zone in January for the first time in 17 quarters.
But the survey of around 1,100 households also showed the Swiss took a less optimistic view on their current and future finances. Seco economists said the indictors showed a certain flattening out meaning that the high point had probably already been reached or surpassed. And bank analysts had forecast better results, expecting the index to rise to as much as +15 points.
Economists expect the Swiss economy to slow next year from growth of around three per cent this year, and a stronger slowdown in consumer data. Experts say one reason could be consumers’ belief that prices will rise more strongly over the next 12 months, making it more difficult to save.
The Consumer Sentiment Index is compiled quarterly by the State Secretariat for Economic Affairs (Seco).
Related Links > Seco (http://www.seco-admin.ch/index.html?lang=en)