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Swiss April Consumer Sentiment Improves: SECO

05/21/2012  02:16

Switzerland's consumer confidence improved further between January and April, a survey by the State Secretariat for Economic Affairs (SECO) showed Monday.

The consumer confidence index rose to -8 in January-April from -19 in three months to January. The latest result was better than economists' expectations for an improvement to -15.

Swiss households were clearly optimistic regarding overall economic and unemployment developments. Consumer expectations regarding the development of the overall economic situation reached -2 points in April compared with -29 in January.

There was also an improvement in the expectations concerning unemployment with the relevant indicator falling to 49 in April from 71 in January.

By contrast, there was virtually no change in the assessments of the future development of consumers' personal financial situations and their future savings opportunities, the report said.

The indicator measuring the assessment of the general economic situation over the last twelve months rose to -18 points in April from -47 in January. However, there was also no change in the assessment of the previous personal financial situation.

The attitude towards the timing of larger purchases was less favorable in April with the indicator moving to 1 point, down from 16 in January. Opinion on consumers' own savings opportunities remained unchanged.

(Market News Provided by RTTNews)

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