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Swiss Consumer Confidence Improves In October

Sentiment among Swiss consumers improved in three months through October, a survey published by the State Secretariat for Economic Affairs, or SECO, revealed Thursday.

The confidence index rose to -5 in October from -9 in the July survey. Economists had forecast a better reading of -4.

This development largely reflected households' more optimistic expectations with regard to the economic prospects and the labor market over the next 12 months, SECO said in the survey report.

At the same time, the expectations for their personal financial situation and opportunities for savings over the coming months remained broadly at the same level as in July.

Between October and July, both the assessment of inflation over the last twelve months as well as the prospects for inflation for the coming twelve months remained virtually unchanged, SECO said.

by RTT Staff Writer