Swiss consumer sentiment has worsened slightly in Q2

According to the report from SECO (State Secretariat for Economic Affairs), swiss consumer sentiment has worsened slightly. The index now comes in only just above average. The labour market has still been assessed positively. However, the likelihood of consumers making major purchases remains low.

In the survey undertaken in April 2019, consumers’ statements were somewhat less optimistic than three months earlier. At -6 points, the consumer sentiment index hardly exceeds its long-term average (-9 points). The index was expected to improve to -3 from -4.

In terms of general economic development, consumers have shown similar levels of optimism to the previous quarter: at -3 points, the relevant sub-index has remained above its long-term average (-9 points). This indicates a continuation of the now only moderate economic growth but not a further worsening of the business cycle development.

The labour market assessments have deteriorated slightly. Mirroring declining unemployment and growing employment, however, the labour market has still been judged positively overall. The sub-index on anticipated unemployment (31 points) has thus stayed well below average. Job security has been estimated as significantly lower than at the start of the year but, over the long term, it has remained above average.