Swiss consumer confidence grew in October

8 years ago - Published in Finance, Fundamental Analysis

Switzerland's consumer confidence improved slightly in October, survey data from the State Secretariat for Economic Affairs or SECO showed Thursday.

The Swiss SECO quarterly consumer confidence survey was -13 for October from -15 in the previous survey and was in line with market expectations. The overall index has also remained below its long-term average of -10 for over a year as underlying caution continues.

Consumers believe that the outlook for the economy over the coming months was considerably better than in July. The corresponding sub-index rose to -6 points from -19. Consumers were perceiving the gradual recovery in the economy.

Consumers do not expect their financial situation or the ability to save money to improve over the next few months. The sub-index dropped to -6 from -2.

Consumers' assessment of price trends over the past months and their expectations for the coming months continued its upward trend. The survey was conducted among 1,200 households.