Swiss Consumer Confidence Drops to Six-Year Low on Job Cuts

The Swiss SECO consumer confidence index dropped to the lowest in more than six years in April, after falling demand prompted firms to cut jobs. The index plunged to -38 from -23 in January, amid expectation for a decline to -25. The breakdown of the report showed that the gauge for job security slumped to -127 from -99 in the previous quarter, while the economic outlook for the next 12 months slipped to -64 from -57.