Switzerland consumer morale decreases in February

Consumer morale in Switzerland weakened in February, with the gauge of confidence coming in at a reading of -42.3, down from -41.1 in January.

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

The figure reflected heightened concerns over consumers’ personal financial situation and the Swiss economy’s strength in the upcoming months.

The gauge of expected economic development slipped to -31.9 from -27.6 in January, while that of expected financial development went down to -40.1 from -39.6 in January.

Swiss consumers were also more concerned about job security, with the respective gauge falling to -26 from -14 in January.

The Swiss Franc was last 0.13% firmer against the US Dollar on Monday, with the USD/CHF currency pair trading at 0.8760.

Investor focus now sets on the key US consumer inflation report for February, which may provide further clues on the Federal Reserve’s future interest rate trajectory.