Swiss Consumer Confidence Dips to Lowest Point in Two Years

Swiss Consumer Confidence Dips to Lowest Point in Two Years

Swiss consumer confidence dipped one percentage point during the third quarter to 98 points, marking the lowest confidence level in two years. Swiss confidence was well over the pan-European average at a much lower 88 points (+ 1 point).

This is the result of a recent study by Nielsen and The Conference Board® on consumer confidence. The consumer confidence index reflects consumers’ assessment of their job prospects, their personal financial situation and their willingness to spend money – always with a view to the next twelve months. Since 2005, Nielsen has been researching consumer confidence in 64 countries worldwide.

All Major Confidence Drivers Drop Slightly

Confidence in job prospects, personal finance, and ability to buy the things people want and need dropped slightly in the third quarter of 2019, as Swiss consumers felt rattled by global economic uncertainty. In the third quarter of 2019, 40 percent of Swiss considered the coming twelve months to be a good or very good time to spend money, down one percentage point from the previous quarter. By comparison, the European average is 37.5 percent (+1 percent). In addition, 51 percent of consumers in Switzerland rate their financial situation for the coming twelve months as good or very good (-1 percent). The European average is 46 percent (+7 percent). Confidence in job prospects dropped the most — down to 62 points from 65. The EU average for job prospects was a much lower 39 points.

The Biggest Concern is Climate Change

Concern about global warming skyrocketed to the top concern for Swiss consumers in the third quarter, from 21 to 27 points. The second concern was personal health, which held steady at 22 points.

About the Nielsen Global Survey

The Global Consumer Confidence Survey on consumer confidence and shopping habits, conducted jointly by Nielsen and the Conference Board®, was last conducted in the first quarter of 2019. More than 32,000 regular Internet users in 64 countries in the Asia-Pacific, Europe, Latin America, Middle East, Africa and North America regions were surveyed. The sample is quoted and weighted by age and gender for each country based on the respective Internet users. It thus represents the Internet users of the country and has a maximum deviation of ±0.6 percent. This online survey is based exclusively on the behaviour of respondents with Internet access. Internet penetration varies from country to country. For a country to be included in the survey, Nielsen assumes that at least 60 percent of the population, or ten million people have Internet access. The consumer confidence index for China is surveyed among 2,400 respondents in a separate combined methodology survey. The Global Consumer Confidence Survey has been conducted continuously since 2005.