Swiss Consumer Confidence Climbs in November

Switzerland’s consumer sentiment index inched up to -30 in January 2026 from -31 in December, matching market expectations and marking its strongest reading since January 2025. The improvement was driven by a firmer financial outlook, which rose to -26 from -28, alongside a better assessment of the past economic situation (-53 vs. -59) and past personal financial conditions (-37 vs. -39). The unemployment outlook also strengthened modestly, improving to 59 from 64. However, optimism about the broader economic outlook weakened slightly, with that gauge slipping to -34 from -32. On the inflation front, expectations for price growth over the next year eased, while five-year inflation expectations edged higher, pointing to mixed views on the longer-term price environment.

Switzerland’s consumer sentiment index rose to -31 in December 2025, up from -34 in November and beating market expectations of -33. It marked the strongest level since January 2025, driven by a sharp improvement in the economic outlook (-32 vs. -39) and a modestly better financial outlook (-28 vs. -29). Meanwhile, the unemployment outlook deteriorated slightly (64 vs. 62). Looking at the past situation, households were less pessimistic about both the economic (-59 vs. -61) and financial (-39 vs. -42) conditions. On the price front, expectations for 1-year and 5-year inflation eased, reflecting softer price pressures.

Switzerland’s consumer confidence indicator rose to -34 in November 2025, up from -37 in both October and the same month last year. It marked its highest level since July, driven by stronger economic expectations (-39 vs. -49 in October) and a more positive financial outlook (-29 vs. -32). Consumers were slightly more optimistic about the timing of major purchases (-25 vs. -26), though their assessment of the past economic situation remained weak at -61. The price outlook held steady, while expectations for unemployment worsened (-61 vs. -54).