Consumer confidence remains quite strong in Switzerland, one index point away from 100. Confidence contracted, however, from the first quarter, where it was measured at 104 points. Currently, Switzerland’s confidence level is 12 points above the European average of 87.
In Europe, the most optimistic markets were Denmark (118), the Czech Republic (108) and Ireland (108). Germany was fourth at 107 points.
This is the result of the recent The Conference Board® Global Consumer Confidence Survey conducted in collaboration with Nielsen, a global performance management company that provides information and insights into consumer media and consumer behavior. 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 coming twelve months. Since 2005, Nielsen has been investigating consumer confidence in 64 countries worldwide.
Confidence in job prospects over the next twelve months declined four index points to 65. In a European context, confidence in the job market is slowly increasing, with confidence levels at 40 points in the second quarter.
VIEW OF OWN FINANCES
Confidence in personal finances also contracted slightly. 54% of the Swiss rate their own financial situation as good or very good, declining three points from the first quarter.
HOLIDAYS & HEALTH CARE: WHAT THE SWISS SPEND THEIR MONEY ON
In the second quarter of 2018, 43 percent of Swiss respondents felt it was a good time to buy the things they want and need. This figure contracted by five points compared to the previous quarter. On average in Europe, 46 percent see it as a good or very good time to spend money, also contracting by 1% compared to Q1.
What are the Swiss spending their spare cash on? Not surprisingly during the summer months, holidays and vacations topped the list at 47%, followed by paying medical insurance premiums (43%).
ABOUT THE CONFERENCE BOARD® GLOBAL CONSUMER SURVEY
The Conference Board® Global Consumer Confidence Survey is conducted in collaboration with Nielsen. It was conducted in February 2018 and polled more than 32,000 online consumers in 64 countries throughout Asia-Pacific, Europe, Latin America, the Middle East/Africa and North America. The sample includes internet users who agreed to participate in this survey and has quotas based on age and sex for each country. It is weighted to be representative of internet consumers by country. Because the sample is based on those who agreed to participate, no estimates of theoretical sampling error can be calculated. However, a probability sample of equivalent size would have a margin of error of ±0.6% at the global level. This survey is based only on the behavior of respondents with online access. Internet penetration rates vary by country. The Conference Board uses a minimum reporting standard of 60% internet penetration or an online population of 10 million for survey inclusion. The Nielsen China Consumer Confidence Index is sourced from a separate survey conducted by Nielsen China, which is based on a mixed methodology survey of more than 3,000 respondents in China. The Global Consumer Confidence Survey was established in 2005.