The monthly consumer sentiment improved slightly on the year. At minus 34, February's unadjusted headline index was 9 points higher than in February 2024 (minus 42) but lower than January's minus 29. It is still well above its minus 39 long-run average.

February's improvement compared to a year ago was largely due to improved past financial situation (from minus 60 to minus 43), financial outlook (from minus 40 to minus 27) and moment to make major purchases (from minus 37 to minus 28). Today's report shows a slowly deteriorating, underlying trend in economic outlook as it falls from minus 32 to minus 37.

The State Secretariat for Economic Affairs (SECO) compiles a quarterly survey of consumer attitudes on present and expected economic and financial conditions. The survey covers around 1,200 Swiss households and results are synthesised into a single summary consumer climate index that attempts to measure consumer sentiment.

The pattern in consumer attitudes and spending is often a major influence on stock and bond markets. For stocks, strong economic growth translates to healthy corporate profits and higher stock prices. For bonds, the focus is whether economic growth goes overboard and leads to inflation. Ideally, the economy walks that fine line between strong growth and excessive (inflationary) growth. Consumer spending accounts for a major portion of the Swiss economy, so investors want to know what consumers are up to and how they might behave in the near future. The more confident consumers are about the economy and their own personal finances, the more likely they are to spend. An increasing important element of the survey is the question concerning current buying intentions.