FX.co ★ Swiss Consumer Sentiment Begins to Thaw in November, SECO Reports

The Swiss consumer climate experienced a moderate improvement in November, as indicated by the latest report from the State Secretariat for Economic Affairs (SECO). The consumer sentiment index, which had previously reached a concerning -37 in the fourth quarter of 2025, saw a slight uptick to -34. This data, reflective of consumer confidence, indicates a modest but noteworthy thaw in economic apprehension as the year closes.

The data, updated on December 8, 2025, suggests that while Swiss citizens remain cautious about spending, their economic outlook is becoming incrementally more positive. Although the index is still in negative territory, which typically signifies pessimism about the economy, the climb toward a less severe figure suggests a potential stabilization in consumer perceptions.

Analysts suggest that this positive shift might be an outcome of slight improvements in economic conditions or expectations of future economic policy changes. Nevertheless, the continued negative sentiment highlights ongoing concerns, and it remains imperative to monitor whether this upward trajectory will persist into the following quarters.