Swiss Consumer Confidence Weakest Since November 2023

(RTTNews) - Consumers in Switzerland remained more pessimistic in October, with the confidence level weakening to the lowest level in nearly three years, survey data from the State Secretariat for Economic Affairs, or SECO, showed on Friday.

The consumer sentiment index dropped to -45 in October from -37 in the corresponding month last year. The index also worsened from -36 in September. The expected score was -35.0.

Moreover, this was the lowest reading since November 2023, when it was -48.0.

Among the four components, the index for the past financial situation of households worsened to -53.8 from -40.7. Similarly, the index for households' future financial situation declined sharply to -44.7 from -32. 2.

Consumers considered the time was not favorable for making major purchases, with the corresponding index falling to -32.7 from -25.7.

Meanwhile, the sub-index measuring general economic outlook in the country improved slightly to -48.2 from -49.1.