According to the report from State Secretariat for Economic Affairs (SECO), households are feeling more optimistic about the development of the economic situation and labour market. However, consumer sentiment remains below average overall, as households' own budget situation is still gloomy.

Swiss consumer sentiment remains cautious overall. At -9 points, the consumer sentiment index in January 2020 again stood below its long-term average (-5 points). The index's position has changed little since early 2019.

However, expectations regarding general economic development have brightened significantly in recent months, with the relevant sub-index rising from -19 to -7 points and now standing just above its average again (-9 points), which points to roughly average economic growth. In line with the improved economic prospects, consumers have also expressed increased confidence in the labour market. The sub-index on anticipated unemployment has dropped considerably from 48 to 33 points and is thus clearly below its long-term average. Job security has also retained its above-average rating. Respondents are therefore assuming that the labour market's current healthy state will continue.