Swiss Consumer Morale Least Negative in 6 Months

Switzerland’s consumer confidence index fell to -45 in October 2026 from -37 in the same period a year earlier, marking a sharp deterioration in household sentiment and its weakest reading since November 2023. The decline was driven by weaker assessments of both past and expected financial situations, with the corresponding sub-indices dropping to -54 from -41 and -45 from -32, respectively. Meanwhile, sentiment regarding the timing of major purchases worsened to -33 from -26, while expectations for major purchases also deteriorated to -62 from -54, suggesting increased caution among households. Expectations for economic development remained broadly unchanged at -48, compared with -49 a year earlier. Assessments of past economic development also weakened to -60, while expectations for unemployment deteriorated to 69 from 64, pointing to growing concerns about the labor market.

Switzerland's consumer confidence index edged up to -36 in September 2026 from -37 in the same month a year earlier, pointing to an improvement in household confidence but coming in below market expectations of -31. The improvement was driven by a more positive economic outlook, with the corresponding index rising to -43 from -53. However, this was partly offset by a deterioration in the financial outlook, which fell to -31 from -28 in September last year. Meanwhile, sentiment regarding the past financial situation weakened slightly to -42 from -40. The index measuring whether it was a good time to make major purchases also declined to -27 from -25, suggesting households remained cautious about discretionary spending. The overall reading weakened from the previous month, when the index stood at -33.

Switzerland's consumer confidence index rose to -33 in August 2026 from -40 in the same month a year earlier, pointing to an improvement in household confidence but remaining slightly below market expectations of -32. This marked the least negative reading since February, with the biggest improvement coming from the economic outlook, as the corresponding index rose to -36 from -66 in August last year. Meanwhile, sentiment around the past financial situation improved modestly to -39 from -40, while the financial outlook weakened slightly to -30 from -29. The index measuring whether it was a good time to make major purchases also declined to -26 from -24, suggesting households remained cautious about discretionary spending. The overall reading also improved from the previous month, when the index stood at -35.