Consumer sentiment recovers from recent low

Bern, 15.02.2024 - Consumer sentiment has bounced back from the slump of last autumn. In January, the index increased for a third consecutive month. At −41 points it is well above the level of October 2023 (−53 points). However, it has not yet returned to the level of January 2023 (−35 points).

Expectations for future economic developments brightened most markedly over the past three months (index level: −28 points). The retrospective assessment of economic performance has also steadily improved. Consumers' current estimates suggest that the economy has now bottomed out. In line with this, sentiment regarding the labour market has not deteriorated further.

Respondents also expect their household's financial situation to ease somewhat in the coming months (−40 points). At the same time, they are more confident about short-term price developments: the sub-index for the price outlook over the next 12 months has fallen significantly since October and is slowly approaching the level of January 2023.

On the other hand, there has been little change in respondents' assessment of their past financial situation (−59 points) and the price situation in recent months. Respondents remain cautious about their propensity to make major purchases (−38 points).

From 15 February 2024, SECO will publish consumer sentiment reports monthly instead of quarterly.

Since its launch in 1972, the consumer sentiment index has been published quarterly based on surveys conducted primarily over the phone. Following a thorough test phase, SECO will now publish a report every month and conduct surveys exclusively online. The new survey format will also collect data continuously rather than being limited to the first three weeks of each quarter. These changes will improve the data’s relevance for observing economic trends.

From March this year, the results will be announced in a publication notice on

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State Secretariat for Economic Affairs