Consumer confidence hits three-year high

Consumer confidence in the Swiss economy reached a three-year high in the second quarter of 2010, according to the State Secretariat for Economic Affairs (Seco).

Seco's quarterly survey index settled at +16 points in July, just above +14 points in April. It is the highest level since April 2007.

Households expect to be able to save more in the coming months but were less confident about job market prospects. As for the general economic situation over the next year, there was a less optimistic outlook.

To calculate the index values, 1,100 households are asked to evaluate the economic situation and their own financial status. A final index figure is worked out from the difference in numbers of positive and negative answers.

So once again a bit of a mixed bag – hard to determine what the true effects will be on the growth in the number of new jobs in Switzerland or the Swiss recruitment market as a whole.