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Swiss Consumer Confidence At Historic Low

Swiss consumer confidence reached a historic low in April amid coronavirus pandemic, survey results from the State Secretariat for Economic Affairs, or SECO, showed Tuesday.

The consumer sentiment index fell to -39 in April from -9 points in January. The preliminary reading was -40.

The survey showed that coronavirus is dampening expectations regarding general economic development and unemployment. The indicator for future economic situation plunged to -78.3 from -7.1.

Respondents were getting ready for tough times in terms of their own financial situation. The index for past financial situation improved to -7.2 from -14.2, while expectations deteriorated to -23.6 from -8.0.

The major purchases index came in at -48.0 versus -8.3 in the preceding period.

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