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Swiss consumer confidence fell in April and the franc is performing mixed against major currencies

2018-05-02 07:24 am | Resource: NEWS | No Views : 311



Swiss consumer confidence fell in April, according to survey data from the State Secretariat for Economic Affairs on Wednesday, as the consumer confidence index fell to 2 in April from 5 in January. The ratio was expected to drop slightly to 4 in April.

Expectations for future economic growth were generally less rosy than they were in January. The index came in at 14 versus 32 in January, and consumers remained optimistic about the direction of the labor market. The unemployment sub-index was 28 points from 26 in the January poll.

The sub-index was based on consumer expectations about the financial position of their own households at 0 points versus -2 by quarter.

Although the mood has not shown any improvement in recent surveys, consumers remain confident that the economy and labor market will achieve a clear positive trend over the next 12 months, CSI said.

The franc saw mixed trading against major currencies. While the franc fell against the euro and the pound, rose against the yen and the dollar.

The franc was 0.9948 against the US dollar, 110.43 against the yen, 1.1955 against the euro and 1.3554 against the pound until 3:10 am ET


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