Financial News: Swiss Consumers More Pessimistic In August

Swiss Consumers More Pessimistic In August

09/06/2024 - 09:57:00 (RTTNews)

(RTTNews) - Confidence among Swiss consumers remained more negative in August, survey results from the State Secretariat for Economic Affairs, or SECO, showed Friday.

The consumer confidence index dropped to -35.0 from -32.0 in July. The expected score was -33.0. Moreover, the consumer sentiment index remained well below the long-term average.

Among components, the index measuring expected economic activity over the next year worsened to -22 from -16, and the past financial situation fell to -37.0 from -31.6.

On a positive note, the index was 6.0 points higher than the reading of -40.6 in the same month last year. Expected economic development, past financial situation, expected financial situation, and timing for major purchases were above the level of August 2023.

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