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Swiss respondents surveyed by the Secretary of State for Economic Affairs (Seco) assume a severe recession and evaluate their own financial situation more negatively than since the 1990s.
El Seco published the provisional results on the mood in April due to the current situation. According to the data, consumer sentiment fell to –40.0 points. In January it was still at –9.4 points.
Respondents’ expectations for overall economic development have worsened considerably. The corresponding subindex fell to a record low of –83.6 points (–7.1). Respondents also prepare for bad times with their own budget. The subindex of the expected financial situation is now –24.3 points (–8.0).
Shopping is not the order of the day
Also, the question of whether there is currently a good time for larger purchases has been answered more negatively than ever. This sub-index stands at –47.9 points (–8.3). According to Seco, both the current high level of uncertainty and the closure of numerous companies are contributing to this.
Seco has not yet provided any information on expectations regarding the evolution of the labor market. Final numbers for consumer sentiment are announced for May 5. (SDA / koh)
