Switzerland Consumer Morale Lower than Expected

Switzerland’s consumer confidence index fell to -35 in July 2026, down from -33 a year earlier and below market expectations of -34, signaling a continued deterioration in household sentiment. Consumers became more pessimistic about their past financial situation, with the corresponding index falling to -44 from -41, while expectations for their future financial position declined to -32 from -28. Sentiment toward making major purchases also weakened significantly, dropping to -55 from -51, suggesting that households remain cautious about discretionary spending. Meanwhile, perceptions of the broader economic outlook were broadly stable, edging down only slightly to -37 from -36 a year earlier. Despite the annual deterioration, confidence improved modestly from June, when the index stood at -36.

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.