ZEW: Swiss financial outlook set for stagnation
Investors in Switzerland have adjusted their outlook for the Swiss economy downwards, anticipating economic stagnation for the coming six months, the latest ZEW Credit Suisse survey suggests.
The monthly outlook dropped by 18.3bsp to 0bsp, the assessment of the current situation declined by 6.9bsp to -12.2. bsp. Nevertheless, about 80% of espondents describe the current situation as “normal”.
The results of the survey are more conservative compared to the latest OECD forecasts, which predicts 1.1% GDP growth, based on a combination of “ultra-low interest rates, robust population growth, mainly driven by immigration, and lower import and commodity prices will support domestic demand.”
According to the OECD, the recent devaluation of the Franc should contribute to positive inflation figures as of 2017.