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Financial News: Swiss Consumer Sentiment Weakens In January

Swiss Consumer Sentiment Weakens In January

02/04/2021 - 04:22:00 (RTTNews)

(RTTNews) - Swiss consumer sentiment deteriorated slightly in January, survey data from the State Secretariat for Economic Affairs, or SECO, showed on Thursday.

The consumer sentiment index fell to -14.6 in January from -13.0 in the preceding quarter. The indicator remained below its long-term average of -5.0.

Expectations regarding general economic development were more pessimistic than in October's survey with the index easing to -18.6 from -14.3.

While the index on the financial situation in the last twelve months has increased somewhat to -12.4 from -14.8, the surveyed households' expectations regarding their own financial situation decreased again slightly to -7.3 from -6.6.

The likelihood of consumers making major purchases remained below average, with the relevant sub-index standing at -20.0 vs. -16.1 in the prior quarter.

Although the expected development of unemployment rose slightly in January, the respondents' assessment of job security remained at a similar negative level.

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