Swiss Jan. Consumer Sentiment Improves More Than Expected: SECO

(RTTNews) - Switzerland's consumer confidence improved modestly in January, and surpassed economists' forecast, owing to improved expectations for the overall economic development, data from a survey by the State Secretariat for Economic Affairs (SECO) showed Thursday.

The consumer confidence index moved up to -19 points in January from -24 points in October, when the previous survey was conducted. Economists expected the a reading of -22.

Swiss households were less downbeat above the general economic development over the next twelve months, with the corresponding indicator rising to -29 points from -38 points in October. At the same time, the measure of consumers' views of their personal finances increased to 1 point in January from -3 points in October.

Meanwhile, the indicator of households unemployment expectations almost stagnated at 71 points. Consumers were slightly more optimistic about their future savings opportunities in January, with the relevant index rising to 22 points from 16 points in October.