Consumer Confidence Index increased: Swiss satisfied with job prospects
Consumer confidence in Switzerland increased in the first quarter of 2018 compared to the fourth quarter of 2017. This is shown by the Consumer Confidence Index, which stood at 104 index points in the first quarter of 2018. Consumer confidence has thus increased by five index points and is currently 18 points above the European average of 86 points.
This puts Switzerland in fourth place in the European ranking. The top 3 are Denmark (114 points), the Czech Republic (108 points) and Germany (108 points).
This is the result of the recent Global Consumer Confidence Survey by The Conference Board® and 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.
JOB OPTIMISM GROWS AND GROWS
The most important aspect of consumer sentiment is confidence in job prospects. 69 percent of the Swiss rate these as good or very good.
But also in a European comparison: Confidence in the job market is increasing. The European average rates their job prospects as good or very good at 39 percent. Compared to the previous quarter, this has increased by one percent.
VIEW OF OWN FINANCES
The assessment of the own finances has increased slightly compared to the previous quarter. At 57 percent, more than half of the Swiss rate their own financial situation as good or very good, two percentage points more than in the previous quarter. The European average is currently 47 percent.
HOLIDAYS, HEALTH CARE, CLOTHING: WHAT THE SWISS SPEND THEIR MONEY ON
In the first quarter of 2018, 48 percent of Swiss people believe it is a good time to spend money. This figure rose by five percent compared to the previous quarter (Q4 2017: 43 percent). On average in Europe, 37 percent see it as a good and very good time to spend money. This figure has remained stable compared with the previous quarter. Now that the Swiss have covered their living expenses, 48 percent of consumers prefer to invest in holidays. 41 percent invest their money in health care and 35 percent spend it on new clothes. Only 28 percent of the Swiss think about saving money.
You can download the full report on the right hand side.
ABOUT THE CONFERENCE BOARD® GLOBAL CONSUMER SURVEY
The Conference Board® Global Consumer Confidence Survey is conducted in collaboration with Nielsen. It was conducted November 8 through November 23, 2017 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.
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