Business · Economy · 9 hrs ago
Swiss consumer confidence remains historically low as spending holds steady
Consumer confidence in Switzerland remains at a historically low level, a trend that began after Russia’s invasion of Ukraine and the energy crisis in 2022.
Visitors at the Olma fair in St. Gallen are still buying food and other goods, despite their worries.
Rising health insurance premiums and housing costs leave some people with less money for unplanned purchases.
The Swiss economy has also faced a series of crises, including the Covid pandemic, the war in Ukraine, high energy prices, a tariff dispute with the United States, the collapse of Credit Suisse and the Iran war.
An economist at Switzerland’s State Secretariat for Economic Affairs says this repeated uncertainty is weighing on people’s mood.
Higher prices add to the concern, even though the increases are not unusual by historical standards.
Private spending remains an important support for the Swiss economy, but the economist says people may eventually become less willing to spend.
Swiss consumer confidence has remained at a historically low level since the war in Ukraine and the energy crisis that followed in 2022.
Despite the pessimistic mood, consumer spending remains stable and private consumption continues to support the Swiss economy.
Rising health insurance premiums, housing costs and prices are adding to consumers’ concerns.
Economist Ronald Indergand said repeated crises have kept people from reaching calmer times.
He warned that consumer willingness to spend could eventually fall.
- Who
- Swiss consumers, with economist Ronald Indergand commenting on the trend.
- What
- Consumer confidence remains historically low, while spending has held steady.
- When
- Since the war in Ukraine and the ensuing energy crisis in 2022; the article was published on 11 October 2026.
- Where
- Switzerland.
- Why
- Repeated crises and rising everyday costs are weighing on confidence.
This story does not have two clearly opposing sides.
We simply have not reached calmer waters in recent years. That weighs on confidence.
It cannot be ruled out that consumer willingness to spend will eventually fall.
The war in Ukraine and the ensuing energy crisis began a period during which consumer confidence has remained historically low.
SRF’s Tagesschau covered Switzerland’s low consumer confidence and steady consumption.
SRF published its article on the trend.
- Consumer confidence
- Historically low since 2022
- Spending
- Consumer spending remains stable
- Economic support
- Private consumption remains an important support for the Swiss economy
- Economist
- Ronald Indergand, head of economic policy at the State Secretariat for Economic Affairs
Sources
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