2023-11-02 09:12:06
Zurich (awp) – Consumption in Switzerland has seen its morale plummet with the arrival of autumn. The consumer climate index compiled by the Secretariat for the Economy (Seco) fell to -40 points at the end of the October survey.
This leading indicator is thus at a level significantly lower than its multi-year average of -6 points, indicates a press release published Thursday.
Swiss consumers are much more pessimistic regarding their financial situation compared to the survey conducted in July. The index then rose slightly to -27 points, compared to -29.5 points in the second quarter.
Almost all sub-indexes point towards deterioration. The general economic situation ahead stands at -37.3 points, a real plunge following the -6.8 points in a July survey tinged with a touch of optimism. For the “past financial situation” subindex, a drop to -50.9 points from -38.2 points is calculated by Seco economists.
The future financial situation is barely better, this component of the consumer climate barometer having stood at -37.8 points (-25 points previously).
As for large acquisitions, the Swiss’ appetite sharpened somewhat between the summer and autumn surveys, with this sub-index having reached -33.8 points in October compared to -38 points previously.
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