ZURICH, Nov 10 (Reuters) - Swiss consumer confidence fell to its lowest level in five years in October as fears increased about the impact of the slowing economy on personal finances and job security, data showed on Monday.
The consumer sentiment index slipped to -27 points from -17 points in July, the State Secretariat for Economic Affairs (SECO) said, noting that was well below a long-term average of about -8 points, but a smaller fall than the last two quarters.
It was the lowest level since October 2003 but well off the low of -39 hit in October 2002, the SECO noted.
"It's not as bad as expected but that is only due to the backward-looking components. The forward-looking components show that things will get much gloomier because we are only just at the start of this recession," said Sarasin's Alessandro Bee.
Economists polled by Reuters had forecast a reading of between -25 and -35 points with a median value in the poll of six analysts of -33 points.
Only views about the general economic situation for the last year worsened dramatically in October, the SECO said, while views about personal finances for the past and coming 12 months were almost unchanged.
However, almost all the other indicators which do not form part of the overall index have worsened, in particular views on the outlook for the economy in the next year and security of jobs, while prices expectations have been revised down.
The index is conducted on a quarterly basis and is compiled from a survey of more than 1,000 households.
(Reporting by Emma Thomasson in Zurich; Editing by Kim Coghill)