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Swiss Consumer Confidence Rises For First Time in a Year

Feb. 9 (Bloomberg) -- Switzerland’s consumer confidence increased for the first time in a year, adding to signs the economy is stabilizing.

An index based on a quarterly survey of about 1,100 households increased to minus 19 from minus 24 in October, the State Secretariat for Economic Affairs in Bern said in an e-mailed statement today. That’s the first increase since January 2011 and higher than the expected gain to minus 22, the median forecast of 11 economists in a Bloomberg News survey.

Swiss consumers may become more confident as the economy shows signs of regaining some strength. The government expects economic growth to accelerate to 1.9 percent next year after a 0.5 percent expansion in 2012 and Swiss central bank interim Chairman Thomas Jordan said on Feb. 7 that “some recently released indicators point to a slight stabilization.”

A sub-indicator of economic prospects rose to minus 29 from minus 38 in October, according to the statement. A measure of expected unemployment decreased to 71 from 73 and a gauge of expected savings increased to 22 from 16.

To contact the reporter on this story: Klaus Wille in Zurich at kwille@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

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