The latest index on economic sentiment in Switzerland released by the ZEW-CS, illustrates that economic sentiment for Switzerland has dropped to a negative level.
As of September, the index has lost 10.2 points and fell to 7.7 points, reaching for the first time since January 2013 a negative level. The monthly poll conducted by the German ZEW centre in collaboration with Credit Suisse Zürich reflects the 6 month expectation among analysts in Switzerland.
According to ZEW CS, the sudden deterioration of economic expectations may have been affected a lower anticipated GDP growth figures for 2014Q2 which have been revised downwards to 0.6%.
The majority of respondents also assessed current economic climate as worse compared to the previous month, the ZEW CS index declined by 19.4 points to 25.6 points, the lowest level since July 2013.
The September ZEW CS survey was conducted among 40 analysts in Switzerland.