The Swiss consumer confidence index increased to -8 in the third quarter of 2019 from a revised -9.3 in the previous period and in line with market forecasts. The subdued sentiment is due in particular to households’ budget situation, with both the past (-13 points) and anticipated financial situation (-8 points) being assessed as well below average (average: -6 points and +2 points respectively). Therefore, the likelihood of consumers making major purchases has, unsurprisingly, also remained below average (-11 points; average: -6 points). With regard to the labour market, respondents remain confident overall, although anticipated unemployment has worsened. The relevant sub-index has climbed significantly to 39 points from 31 points, but has stayed below average (48 points). Consumer Confidence in Switzerland averaged -4.96 Index Points from 1972 until 2019, reaching an all time high of 19.90 Index Points in the fourth quarter of 1972 and a record low of -36.50 Index Points in the first quarter of 1992.
Consumer Confidence in Switzerland is expected to be -8.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Confidence in Switzerland to stand at -4.00 in 12 months time. In the long-term, the Switzerland Consumer Confidence is projected to trend around -4.00 Index Points in 2020, according to our econometric models.