Swiss Consumer Confidence Improves Slightly To -27.1

(RTTNews) - Swiss consumer confidence improved for the third straight month in the third quarter, survey results from the State Secretariat for Economic Affairs, or SECO, showed Wednesday.

The consumer confidence index dropped to -27.1 in the third quarter from -29.6 in the preceding three-month period.

Despite this further improvement, the consumer sentiment index remained well below the long-term average of -6.

Among the main four sub-components, consumers' expectations of how the general economic situation would develop over the next twelve months recovered, notably in the June quarter. The expected economic development index declined to -5.93 from -16.17 in the prior quarter.

Households were more pessimistic about their own financial situation, which weakened to -26.24 from -22.34, and the index measuring intentions for major purchases fell to -38.62 from -34.99.