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Switzerland's consumer confidence rose more than expected in January, as households showed more confidence about general economic situation over the next one year and pessimism regarding past economic situation decreased.
The consumer confidence indicator rose to minus 7 in January from minus 14 recorded in October, results of the latest quarterly survey conducted by the State Secretariat for Economic Affairs or SECO showed Tuesday. Consumer sentiment has been improving since April 2009. Economists had forecast a reading of minus 10.
The survey found consumers expect unemployment to rise more slowly and expect positive developments in their personal financial situation as well as an improvement in the general economic condition.
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