State Secretariat for Economic Affairs SECO reported the consumer sentiment index increased to -4 points in the first quarter of 2019 from -6 points in the fourth quarter of 2018, remaining above its long-term average (-9 points). A score above zero indicates optimism, while a score below zero shows pessimism. 

The SECO noted the sentiment has remained stable overall, with signs of a recovery and of a slowdown broadly balanced. 

According to its survey undertaken in January 2019, consumers were feeling confident about the labor market, with the sub-index on anticipated unemployment falling significantly to 32 points. In addition, consumers’ assessment of job security has come in above average. The assessment of the households’ own budget situation also improved, helped by both the encouraging labor market prospects and the recent decline in inflation. However, the assessment of the economy in general deteriorated. Consumers felt that the economy had developed significantly worse over the past twelve months, mirroring the sharp decline in GDP growth.