2024-02-15 12:01:05
This content was published on February 15, 2024 – 1:01 p.m.
(Keystone-ATS) The transition to the new year did not turn the tide in terms of the consumer climate in Switzerland, which was still gloomy in January. The State Secretariat for Economic Affairs (Seco), however, noted an improvement.
The Swiss consumer climate index thus stood at -41 points in the first quarter, compared to -53 points during the last score in October 2023, according to indications provided Thursday by Seco. The January 2023 level, of -35 points, still seems far away.
Among the factors which explain the improvement in January are expectations relating to economic developments, according to the survey carried out by Seco among some 3,600 people over 16 years old. The related index thus rose to -28 points, following falling below -50 points last October.
The past economic situation is perceived more favorably by respondents. “Consumers’ current assessment therefore suggests that the bottom of the wave has been reached,” comments Seco in its press release.
The renewed optimism is also fueled by the financial outlook of those surveyed, a majority of whom expect an improvement in the coming months. This subindex rose to -40 points, following flirting with -55 points last fall. The issue of inflation seems to be less of a concern, with the index devoted to price developments over 12 months having returned to its January 2023 level.
The assessment of the labor market remains stable, as does that of the past financial situation and the increase in prices in recent months. Those surveyed nevertheless remain cautious and few of them foresee major acquisitions in the near future.
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