Consumer Sentiment Significantly Higher than a Year Ago
Bern, 07 February 2025 – The Swiss Economic Institute (KOF) Consumer Sentiment Index rose to -22.5 in February, up sharply from -55.1 in February 2024. This represents a significant improvement in consumer sentiment, indicating that consumers are becoming more optimistic about the Swiss economy.
The improvement in sentiment is likely due to a number of factors, including the recent decline in inflation and the strong labor market. Inflation has fallen from a peak of 3.4% in September 2024 to 2.3% in December 2024, providing some relief to consumers’ budgets. The unemployment rate has also fallen to a record low of 3.2%, giving consumers confidence in their job security.
The KOF Consumer Sentiment Index is a composite indicator that measures consumer confidence in the current economic situation and expectations for the future. The index is based on a survey of 1,000 Swiss households.
The improvement in consumer sentiment is good news for the Swiss economy. Consumer spending is a major driver of economic growth, and the increase in optimism suggests that consumers are likely to spend more in the coming months. This could help to boost economic growth and create jobs.
However, it is important to note that the KOF Consumer Sentiment Index is still below its pre-pandemic level. The index stood at -10.2 in February 2020, before the global health crisis began. This suggests that consumers are still somewhat cautious about the economy, and that there is room for further improvement.
Consumer sentiment significantly higher than a year ago
The AI has provided us with the news.
I’ve asked Google Gemini the following question, and here’s its response.
Swiss Confederation a new article on 2025-02-07 00:00 titled “Consumer sentiment significantly higher than a year ago”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
153