Switzerland consumer morale little changed in May

Consumer morale in Switzerland was almost unchanged from a month ago in May, with the gauge of confidence coming in at a reading of -38, up from -38.1 in April.

The latest figure remained considerably below the long-term average level, the State Secretariat for Economic Affairs said.

The gauge of expected economic development remained little changed at -21.1 in May (versus -21.2 in April).

On the other hand, the gauge of expected financial development improved to -35.6 in May from -36.2 in the prior month.

However, the prospects of saving (-11.6 compared to -9.4 in April) and spending (-63 compared to -59.8 in April) dampened last month.

The Swiss Franc was last little changed on the day against the US Dollar, with the USD/CHF currency pair trading at 0.8964.

The major Forex pair has eased from a one-week high of 0.8983, which it registered earlier in the session.