Swiss economic outlook declines
The outlook for the Swiss economy fell again in August, according to the latest ZEW – Credit Suisse Indicator, although investors are now more upbeat about the current market environment.
According to the latest ZEW CS poll, the index on the six month outlook for the Swiss economy dropped by 8.7 basis points to 2.8 basis points in August, reflecting growing pessimism among Swiss investors.
At the same time, the assessment of the current economic situation in Switzerland improved from 0.0 bsp to 11.3, with 89% of respondents assessing the current climate in Switzerland as “normal”, 14.2% as “good” and a mere 2.9% as “bad”.
Respondents also corrected their inflation expectations further downwards, the share of respondents expecting inflation to rise dropped from 25.6% to 19.9%, in line with weaker price levels throughout July.