Switzerland consumer morale near 8-month high in April

Consumer morale in Switzerland remained almost unchanged from a month ago in April, with the gauge of confidence coming in at a reading of -38.1, down from -38 in March. The latter has been the highest level of confidence since July 2023.

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

In April, consumers were less pessimistic about economic development. The gauge of expected economic development rose to -21.2 from -22.6 in March.

Swiss consumers were also less concerned about job security, with the respective gauge improving to -21.0 in April from -22.1 in March.

On the other hand, the gauge of expected financial development deteriorated to -36.2 in April from -35.1 in the prior month.

It was also less likely that consumers would make big purchases, with the respective gauge falling to -37.2 in April from -36.4 in March.

The Swiss Franc was last 0.29% weaker against the Euro on Monday, with the EUR/CHF currency pair trading at 0.9780.

Earlier during the European session, the minor Forex pair touched a 1 1/2-week high of 0.9786.

Next, market players are likely shifting their focus on Germany’s final CPI inflation print for April, ZEW Economic Sentiment survey results for May and Switzerland’s producer & import price data for April, all due out tomorrow.