Swiss consumer sentiment continues to remain subdued in July

Swiss consumer sentiment continued to remain weak in July. The index has weakened below the long-term average of -9 points since the survey was undertaken in July 2015. The index remained unchanged at -15 points in July, according to State Secretariat for Economic Affairs (SECO). Even if the general economic situation views continue to be quite negative (-27 in July), the scenario is continuing to brighten slightly, stated SECO.

Projection for unemployment dropped slightly to 61 in July from 70 in April. Assessment of financial circumstances was virtually the same for the next 12 months. Meanwhile, respondents had a slightly bleaker view of their prospects on saving month in the next twelve months (+20 points in July).

The SECO stated that consumers anticipated a rather lower possibility of them putting money aside. Moreover, the consumer also believed that it is slightly less auspicious time at present to make huge purchases. A noticeable rise was seen in perceived recent and future inflation, said SECO.

The sub-index gauging price trends in the last 12 months rose to 17 points in July. Meanwhile, the index of expected price trends also rose. But both the sub-indices continue to be well below their long-term averages, said SECO.