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Swiss Consumer Confidence Slightly Rises In October

Switzerland's consumer confidence modestly improved in October from July as households' inflation expectations increased subduing their purchasing power, survey data from the Swiss Secretariat for Economic Affairs or SECO showed on Thursday.

The consumer confidence index climbed to -6 from -7 in July. In April, the reading was +2.

The latest survey confirmed that consumers are less optimistic about the future than in the first half of 2018, yet consumer sentiment is still slightly above the long-term average of -9 points, the SECO said.

"The still positive outlook for general economic development and unemployment continues to be clouded by below-average expectations of consumers' own budget," the agency said. "A reason is likely to be inflation, which is perceived more strongly and is subduing households' purchasing power."

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