Switzerland Consumer Confidence Falls to Lowest Since 2023

2026-04-10 07:52 By Joana Taborda 1 min. read

Switzerland’s consumer sentiment index fell sharply to -43 in March 2026, marking its lowest level since December 2023.

This compares with -30 in each of the previous two months and came in well below forecasts of -32.

The deterioration likely reflects the impact of the war with Iran and the associated surge in oil prices, which weighed on household confidence and led to a broad-based decline in sentiment.

All major components weakened: perceptions of the past economic situation dropped to -62 (from -52), the economic outlook fell to -68 (from -31), the financial outlook declined to -32 (from -26), and the assessment of whether it is a good time to make major purchases slipped to -58 (from -55).

Meanwhile, inflation expectations surged, with consumers anticipating significantly higher prices over the next 12 months (121.4 vs 98.3), while expectations for unemployment also increased (69 vs 64).



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Switzerland’s consumer sentiment index rose to -40 in April 2026, beating market expectations of -46 and improving slightly from -42 a year earlier. The increase was driven mainly by stronger views on the expected economic outlook, with that sub index improving to -58 from -67 in April 2025. Consumers also reported a slightly better assessment of their past financial situation compared with a year ago. Expectations for future personal finances were broadly unchanged, while the indicator measuring willingness to make major purchases remained weak despite a modest improvement from last year. Overall, sentiment stayed deeply negative, reflecting continued caution among Swiss households despite some improvement in economic expectations.
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Switzerland Consumer Confidence Falls to Lowest Since 2023
Switzerland’s consumer sentiment index fell sharply to -43 in March 2026, marking its lowest level since December 2023. This compares with -30 in each of the previous two months and came in well below forecasts of -32. The deterioration likely reflects the impact of the war with Iran and the associated surge in oil prices, which weighed on household confidence and led to a broad-based decline in sentiment. All major components weakened: perceptions of the past economic situation dropped to -62 (from -52), the economic outlook fell to -68 (from -31), the financial outlook declined to -32 (from -26), and the assessment of whether it is a good time to make major purchases slipped to -58 (from -55). Meanwhile, inflation expectations surged, with consumers anticipating significantly higher prices over the next 12 months (121.4 vs 98.3), while expectations for unemployment also increased (69 vs 64).
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