Swiss consumer spending stabilizes in November
Published: Friday, Dec 15th 2023, 14:20
Updated At: Saturday, Dec 16th 2023, 00:59
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Swiss consumers spent a little more money again in November. The trend is pointing upwards in many areas.
Specifically, consumer spending rose by 1.2 percent year-on-year in November, as Postfinance announced on Friday. It calculates spending with the help of anonymized card payments made by its customers.
However, taking into account the current inflation rate of 1.4 percent, consumer spending is below the previous year's level, according to the report. The trend therefore suggests a stabilization after declines were recorded in the past two months.
Many segments are developing positively
General household expenditure rose slightly in November. Spending on children's products in particular recorded a significant increase. However, people in Switzerland also spent more money on food, pets, books and in department stores.
There was also an increase in spending in the "Beauty & Wellness" segment. Beauty treatments were particularly popular. In contrast, noticeably less was spent on clothing.
People also spent less on "fun and leisure" in November. Consumers spent more on sporting activities in particular, while slightly less money was left over for restaurants.
Only in the area of travel was there a decline in consumer spending. However, the level is still high compared to the previous year, according to the authors of the study.
Current and previous values (in % of previous year):
2023 November +1.2 October: -0.2 September: -0.7 August: +2.2 July: +1.6 June: -3.5 May: -0.2 April: +1.3 March: +6.0 February: +4.0 January: -1.1
2022 December: +0.4 November: +2.3 October: +4.2
©Keystone/SDA
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