Swiss consumer confidence jumped seven points to 106 in the third quarter, a reflection of a booming economy and a strong job market. Currently, Switzerland’s confidence level is 19 points above the European average of 87.
In Europe, the most optimistic markets were Denmark (122), the Netherlands (112), and Ireland (111). Germany and Switzerland tied for sixth place.
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 jumped ten index points to 75 — well above the European average of 40 points.
VIEW OF OWN FINANCES
Confidence in personal finances also increased. 60% of the Swiss rate their own financial situation as good or very good, up six points from the second quarter. With confidence in job prospects and personal finances increasing, almost one in two Swiss consumers (47%) believe now is a good time to buy the things they want and need.
HOLIDAYS & HEALTH CARE: SOLID SWISS INVESTMENTS
What are the Swiss spending their spare cash on? Holidays and vacations remained unwavering as #1 at 47% (+0% vs Q2), followed by paying medical insurance premiums (39%), down -4% from Q2.
ABOUT THE CONFERENCE BOARD® GLOBAL CONSUMER SURVEY
The Conference Board® Global Consumer Confidence Survey is conducted in collaboration with Nielsen. It was conducted in August 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.