Current Account in Switzerland
Switzerland - Current AccountWhile official national accounts data has yet to released, growth should have recovered in the fourth quarter. The rebound could be short-lived, however, as data for Q1 suggests weaker global demand and a sluggish Euro-area are starting to take a toll on the export-oriented economy. The KOF economic barometer fell again in January, hampered by falling confidence in the manufacturing and services sectors, and drearier export prospects. Moreover, the manufacturing PMI reaffirmed softer dynamics, losing ground in the same month on weaker production and softer hiring activity. A stronger franc due to safe-haven demand could also be weighing on export competitiveness. In other news, Switzerland and the UK signed a trade continuity agreement on 11 February that fortifies the current trade relationship and prevents new tariffs should the UK leave the EU without a deal.
Switzerland - Current Account Data
|Current Account (% of GDP)||11.4||8.2||10.6||9.3||9.5|
5 years of economic forecasts for more than 30 economic indicators.
Switzerland Current Account Chart
Source: Swiss National Bank and FocusEconomics calculations.
|Bond Yield||-0.41||6.27 %||Mar 11|
|Exchange Rate||1.01||-0.54 %||Mar 11|
|Stock Market||9,341||-0.82 %||Mar 11|
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March 5, 2019
Consumer prices climbed 0.4% over the previous month in February, contrasting the 0.3% decline logged in January.
February 28, 2019
The KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—fell to 92.4 points in February from a revised 96.2 points in January (previously reported: 95.0 points).
February 28, 2019
According to data released by the State Secretariat for Economic Affairs (SECO) on 28 February, the Swiss economy grew 0.2% in Q4 2018 over the previous quarter in seasonally-adjusted terms, rebounding from the revised 0.3% contraction recorded in Q3 (previously reported: -0.2% quarter-on-quarter).
February 11, 2019
Consumer prices fell 0.3% over the prior month in January, matching the decrease registered in December.
February 1, 2019
The manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch fell to 54.3 points in January from a revised 57.5 points in December (previously reported: 57.8 points), coming in slightly below the index’s long-term average of 55.0 points.