Friday, December 9, 2022

Consumers more pessimistic than ever

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Rising prices are scary

Consumers are more pessimistic than ever

The mood of Swiss consumers has deteriorated further since the last quarter. Above all, the assessment of one’s own financial situation has fallen to a new historical low due to rising inflation.

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Rising prices are worrying the Swiss.

The consumer sentiment index, which is surveyed quarterly, fell from -41.7 to -46.6 points in the fourth quarter. It has thus reached its lowest level since the survey began in 1972, as the State Secretariat for Economic Affairs (Seco) announced on Tuesday.

The reasons: On the one hand, consumers’ expectations for general economic development over the next twelve months have continued to deteriorate. On the other hand, the households would again assess their financial situation significantly more negatively than in the previous quarter, writes the Seco. This was only rated as bad once in the early 1990s.

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