For 2nd Quarter
Provided by: State Secretariat for Economic Affairs

For April
Provided by: State Secretariat for Economic Affairs

Swiss consumer sentiment took a sharp step backwards in the 1st quarter. The SECO survey's index fell to -38 from the 4th quarter's -23. That puts the index at its lowest level since 2003. While there have been some indications of turnaround in macroeconomic indicators in the US and the Euro-zone, Switzerland's recession remains very deep, with increasing job losses a major factor in pushing down consumer's moods. In March, Swiss unemployment stood at 3.4%. The Swiss central bank has cut rates to 0.50%, so there is little scope for more loosening monetary policy. 

For January
Provided by: State Secretariat for Economic Affairs

For October
Provided by: State Secretariatfor Economic Affairs

Swiss consumer confidence fell to a 5-year low according to SECO, falling from -17 to -27. This may be slightly better than economists' forecasts, but it is only because current conditions aren't as bad as the outlook. This means, consumers believe times will get much harder in the coming year. More rate cuts are expected, amidst a global effort of central banks to stimulate their economies through cheap lending.

For September
Provided by: State Secretariat for Economic Affairs

Swiss GDP will rise 1.9% this year and 1.3% in 2009, according to the State Secretariat for Economic Affairs said today in a statement, maintaining its forecasts from June. Risks to growth have significantly as a result of the credit crunch. Swiss financial institutions UBS and Credit Suisse will see their earnings fall, and exports to the US and other countries will diminish in the face of the global slowdown. The figures for 2009 remain fluid as a lot depends on how the Euro-zone responds to the recent turmoil, as the Swiss economy depends on exports to the Euro-zone. Export growth is expected to cool to 2.3% in 2009 from 3.4% in 2008. Manufacturing contracted for the first time in September in nearly 3 years, and the leading economic indicators declined to a 5-year low.

For 3rd Quarter

Swiss consumers turned gloomy for the 3rd quarter as a slowing economy and record inflation combined to weigh on sentiments. The Consumer sentiment index fell to -17 in the 3rd quarter from 2 in the 2nd quarter. That's the lowest level since the 1Q of 2004. Consumers are worried about their personal finances and said tehy cut bak plans for large purchases.