Consumer sentiment somewhat dampened
After a year and a half of steady growth, the latest survey by the State Secretariat for Economic Affairs (SECO) revealed a slight dip in consumer sentiment. However, there is no cause for concern, as the index remains well above its long-term average.
After one and a half years of continuous growth, the latest survey by the State Secretariat for Economic Affairs (SECO) revealed a slight dip in consumer sentiment. However, there is no cause for concern, as the index is still well above its average level in a long-term comparison. SECO surveys around 1,100 families every quarter to determine consumer sentiment in the country. In the last survey in July, consumers somewhat surprisingly assessed the situation as worse in practically all respects than in the survey in April (from +31 to +22). By historical standards, however, consumer sentiment can still be described as sanguine.
According to SECO, developments in both the general economic situation and the financial situation of households themselves are assessed negatively. In particular, future economic development and the potential to build up savings are rated far less optimistically than in April, SECO continues. There has also been a significant change in the assessment of price trends over the last 12 months, which are perceived more strongly than three months ago. Accordingly, inflation expectations have also risen significantly. However, these two values are also at a comparatively low level.
According to SECO, developments in both the general economic situation and the financial situation of households themselves are assessed negatively. In particular, future economic development and the potential to build up savings are rated far less optimistically than in April, SECO continues. There has also been a significant change in the assessment of price trends over the last 12 months, which are perceived more strongly than three months ago. Accordingly, inflation expectations have also risen significantly. However, these two values are also at a comparatively low level.
