Swiss Consumer Morale Better than Expected

Switzerland’s consumer confidence index fell to -36 in June 2026 from -32 in the same month a year earlier, missing market expectations of -35. The decline was driven by deteriorating perceptions across all major components, particularly job security, with the corresponding sub-index dropping to -62.8 from -42.7 in June 2025. Consumers also turned more cautious about their future financial situation, as that indicator fell to -31.8 from -27.4, while expectations for the broader economy eased to -39.6 from -38.0. Meanwhile, assessments of past financial conditions deteriorated to -43.4 from -36.4, and the indicator measuring the willingness to make major purchases edged lower to -28.4 from -27.0. Overall, consumer sentiment remained firmly negative, highlighting persistent concerns over economic conditions, employment prospects, and household finances.

Switzerland’s consumer sentiment index fell to -38 in May 2026 from -37 in the same month a year earlier, in line with market expectations, reflecting a slightly more pessimistic outlook among households. The decline was driven primarily by weaker expectations for the economy, with the corresponding sub-index dropping to -45.9 from -42.9 in May 2025. Consumers were also more cautious about their future financial situation, as that indicator fell to -33.8 from -30.3. Meanwhile, assessments of past financial conditions improved marginally to -44.2 from -44.8 a year earlier. The indicator measuring the willingness to make major purchases remained weak, edging down to -28.7 from -28.0. Overall, consumer sentiment remained deeply negative, highlighting persistent concerns about the economic outlook and household finances.

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.