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Swiss Consumer Sentiment Recovers In July

Switzerland's consumer sentiment recovered from its slump in April after the relaxation of the measures to contain the coronavirus, survey data from the State Secretariat for Economic Affairs, or SECO, showed Tuesday.

The consumer confidence index rose to -12 in July from a historic low of -39.3 in the previous quarter. Nonetheless, the reading was well below its long-term average of -5.

Expectations regarding general economic development improved significantly, with the index rising to -16.7 from -78.3.

By contrast, expectations regarding the development of the labor market remained very negative.

The index measuring households' past financial situation fell to -10 from -7.2, while the indicator for expectations regarding the financial situation brightened considerably. The index came in at -4.1 versus -23.6 in April.

The likelihood of making major purchases left April's low behind but remained well below average, with the relevant sub-index standing at -17.1 points versus -48.0 in the previous quarter.

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