Pandemic takes a heavy toll on consumer confidence
Many Swiss are now doing their shopping online.
Keystone
Switzerland’s consumer confidence index plummeted to a “historically low” level in April, according to a Wednesday statement from the Secretariat for Economic Affairs (SECO).
The index fell to -40 points, compared to -9 points in January, when the previous survey was conducted. That marks the lowest results since the early 1990s.
These results are provisional and are published exceptionally, SECO notedExternal link.
Household expectations regarding the development of the economic situation have deteriorated significantly since the onset of the coronavirus pandemic. The corresponding sub-index plummeted to -84 points.
Respondents are also pessimistic about their own budgetary situation. The indicator relating to future financial situation also dropped to a historic low (-24 points).
Survey participants indicated that it is not the right time to make big acquisitions (-48 points).
“These responses reflect, on the one hand, the impact of the closure of many businesses in the context of the extraordinary situation and, on the other hand, the very great uncertainty that currently prevails”, the office stated.
More
More
Coronavirus: the situation in Switzerland
This content was published on
An overview of the latest Covid-related information in the Alpine nation.
Swiss invention: 90-year anniversary of first T-bar ski lift
This content was published on
On Monday it will be 90 years since the world’s first T-bar ski lift went into service in Davos. This Swiss invention was an instant success.
Iran summons Swiss ambassador over US and Italy arrests
This content was published on
Iran has summoned the Swiss ambassador, who represents US interests, to protest against the arrest in the US and Italy of two Iranians.
Swisscom receives greenlight for acquisition of Vodafone Italia
This content was published on
The takeover of Vodafone Italia by Swisscom is nearing completion. All relevant authorities have now approved the €8 billion (CHF7.45 billion) deal.
Novo Nordisk stock market plunge drags down Swiss device maker Ypsomed
This content was published on
The Danish pharmaceutical giant, Novo Nordisk, faced setbacks on Friday that weighed on the share price of Swiss injection device manufacturer Ypsomed.
Swiss press react to EU deal with mix of euphoria and scepticism
This content was published on
Swiss media reaction to the agreement between Switzerland and the EU varies widely. Some are celebrating, while others worry about what is to come.
Swiss Solidarity donations to tackle child abuse top CHF4 million
This content was published on
Swiss Solidarity, the humanitarian arm of the Swiss Broadcasting Corporation (SBC), has raised over CHF4 million ($4.3 million) to tackle child abuse.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Ranking finds Swiss cities less expensive
This content was published on
Zurich and Geneva have slid down the rankings since last year. The full effect of the coronavirus crisis remains to be seen.
Interest groups present demands for coronavirus exit plans
This content was published on
Political parties, unions and other interest groups have published their proposals to relax restrictions introduced to stem the Covid-19 pandemic.
How far will companies go to save themselves in the coronavirus crisis?
This content was published on
Our analysis of what the biggest global companies in Switzerland are up to. This week: multinationals' survival strategies.
Swiss banks bow to pressure to delay half of dividend payments
This content was published on
UBS and Credit Suisse have asked shareholders to accept a delay of several months for half of their dividend payments this year.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.