Swiss economic outlook rebounds
The economic outlook for the Swiss economy over the next six month has improved from -30.7 to -7.6 points, according to the latest financial market survey conducted by the ZEW Institute and Credit Suisse among analysts in Switzerland.
The survey also revealed that there are still more analysts expecting growth to decelerate (25.6%), compared to those who expect it to accelerate (18.0%).
Meanwhile, the share of respondents expecting the Euro to appreciate against the Franc has increased to 25%, reflecting growing confidence in the Swiss National Bank’s ability to maintain the exchange rate cap.
In terms of asset valuation, the assessment remains stable compared to the last six months. The majority of respondents consider Swiss government and corporate bonds as well as Swiss residential real estate and real estate funds to be overvalued, while gold is seen overwhelmingly as fairly valued. Swiss equities are largely seen as fairly valued.
The most recent survey was conducted in the first three weeks of November among 39 analysts.