Current Account in Switzerland
Switzerland - Current Account
In Q1, the economy likely recorded a mild expansion that was broadly in line with the European average. The lifting of virtually all Covid-19 restrictions from mid-February should have aided domestic demand, offsetting a more adverse external panorama following the outbreak of the war in Ukraine. Looking at available indicators, the manufacturing PMI averaged slightly lower in Q1 than in Q4 and the KOF Barometer declined through March. In contrast, the services PMI averaged higher in Q1 as the impact of the pandemic faded. Turning to Q2, in April both the manufacturing and services PMIs fell to their lowest levels since early 2021. However, they continued to point to robust growth in the economy. Moreover, while inflation has picked up it remains the lowest in Western Europe, which should be supporting consumer spending.Switzerland - Current Account Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Current Account (% of GDP) | 11.3 | 9.9 | 6.4 | 8.2 | 12.2 |
Switzerland Current Account Chart
Source: Swiss National Bank and FocusEconomics calculations.
Switzerland Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | -0.51 | 6.27 % | Jan 01 |
| Exchange Rate | 0.97 | -0.54 % | Jan 01 |
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Economic News
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Switzerland: SNB hikes rates in June in shock move
June 16, 2022
At its meeting on 16 June the Swiss National Bank (SNB) raised its policy rate and the interest rate on sight deposits from minus 0.75%—the world’s lowest—to minus 0.25%.
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Switzerland: Inflation comes in at highest level since July 2008 in May
June 2, 2022
Consumer prices increased 0.65% from the previous month in May, picking up from April's 0.37% increase.
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Switzerland: Manufacturing PMI eases in May; services PMI improves
June 1, 2022
The Credit Suisse/procure.ch Manufacturing Purchasing Managers' Index (PMI) fell to 60.0 in May from April's 62.5.
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Switzerland: Retail sales decline in April
May 31, 2022
Retail sales decreased 6.0% year-on-year in calendar-adjusted terms in April (March: -6.6% c.a.
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Switzerland: Economic growth accelerates in the first quarter
May 31, 2022
GDP growth accelerated to 0.5% on a seasonally-adjusted quarter-on-quarter basis in the first quarter, from 0.2% in the fourth quarter of last year.
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