Consumer confidence in Switzerland improved in Q4

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The consumer confidence index in Switzerland rose in the fourth quarter of 2018. Consumer confidence rose to minus 4 from minus 6, having exceeded experts' forecasts at the level of minus 5. Assessment of the overall economy deteriorated against the background of a decline in the country's GDP. Swiss consumers are still expecting a slowdown. The State Secretariat for Economic Affairs (SECO) reduced its forecast for 2019 from 2% to 1.5% due to weak domestic demand. The National Bank of the country also stopped at 1.5%. The Swiss economy contracted by 0.2% in the third quarter of 2018. In IV quarter, the indicators remained at the same level. Analysts expect growth in demand for Swiss goods and a reduction in exports due to a slowdown in eurozone GDP growth. Retail sales declined 0.3% in December year-on-year. The purchasing managers index fell to 54.3 in January against 57.5 in December 2018.

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