Mon, Mar 11th 2024
Swiss consumer confidence continues its downward trajectory, with the Seco consumer sentiment index reflecting persistent economic concerns among the populace.
The mood among Swiss consumers remains depressed. The new monthly consumer sentiment index compiled by Seco has deteriorated.
In February, the index stood at -42 points, which corresponds to a decline of 1 point compared to January and 7 points compared to the previous year, as reported by the State Secretariat for Economic Affairs (Seco) on Monday. The index reached its lowest point to date last October, when it slipped to -53 points.
According to Seco, for example, respondents are more negative about the expected economic development than a year earlier. The corresponding index has slipped to -32 points from -16 points in February 2023.
Consumers surveyed are also somewhat more cautious about their financial situation than in the same period last year (-40 points compared to -31 points). By contrast, the propensity to make larger purchases has increased compared to the previous year. Here, the index came to -37 after -42 points in the same period of the previous year.
The consumer sentiment index was previously based on surveys conducted mainly by telephone in January, April, July and October. From now on, Seco intends to publish the index every month instead of once a quarter as before. The survey will now be conducted exclusively via the Internet and on an ongoing basis, instead of in the first three weeks of a quarter as before.
©Keystone/SDA
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