Switzerland consumer morale improves in October

Switzerland’s consumer morale has improved in October from a year earlier, though at a lesser pace than expected.

The index of consumer confidence came in at a reading of -37 in October, up from -52.5 in the same month a year ago.

Market consensus had pointed to an improvement to -33.

The sub-index of economic expectations went up to -30.1 in October from -51.9 in October last year, suggesting a less negative outlook regarding future economic conditions.

The sub-index of personal finance expectations also improved in October, to -33.6 from -52.4 in October last year.

And, the assessment of whether it is a good time to make major purchases also brightened, with the respective gauge rising to -31.5 from -41 a year ago.