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MNI BRIEF: Swiss Consumer Cools in Jan

MNI (London)
VIENNA (MNI)

Swiss consumer confidence fell in the 3 months to January, with the headline index and all sub-indicators well below their long-term averages, data published by SECO showed. The consumer confidence index to -15, down from -13 seen in October. The outlook for general economic development dropped to -19 in January after improving to -14 in October, with many still concerned about the outlook for jobs.

Household intentions to make major purchases remain well below average, as consumer demand remains well below normal levels, and could be a concern for the SNB, although their December policy statement suggested a sluggish winter period, assuming "there will not be a significant easing in the (virus) containment measures in Switzerland until the spring."

MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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