Current Account in Switzerland
Switzerland - Current AccountThe economy picked up some pace in the third quarter according to recent data, although the expansion was still modest. The reading was buoyed by rising exports of chemicals, pharmaceuticals and energy, as well as a rebound in fixed investment. However, private consumption was stuck in a low gear, amid weak consumer sentiment, while manufacturing activity was soft. Turning to the fourth quarter, momentum likely remains moderate. While the manufacturing PMI averaged higher in October–November than in Q3, it was still in contractionary territory, and the KOF economic barometer slumped to a multi-year low in November on weak dynamics in the banking and insurance, and accommodation and food services sectors. Nevertheless, the labor market remains solid, with the unemployment remaining low through November, which should be supporting domestic activity.
Switzerland - Current Account Data
|Current Account (% of GDP)||11.6||8.4||11.2||9.4||6.7|
5 years of economic forecasts for more than 30 economic indicators.
Switzerland Current Account Chart
Source: Swiss National Bank and FocusEconomics calculations.
|Bond Yield||-0.51||6.27 %||Jan 01|
|Exchange Rate||0.97||-0.54 %||Jan 01|
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January 9, 2020
Calendar-adjusted real retail sales were flat in annual terms in November, down from October’s revised 0.4% reading (previously reported: +0.7% year-on-year).
January 7, 2020
Consumer prices were unchanged in month-on-month terms in December, following November’s 0.1% dip, with lower prices for clothing and footwear offsetting higher communications prices. Consumer prices rose 0.2% in annual terms in December, coming after consecutive annual price falls in October and November, while core inflation clocked 0.4%.
January 3, 2020
The manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch rose to 50.2 in December from 48.8 in November, marking the highest reading since March and moving back above the 50-threshold that separates contraction from expansion in the manufacturing sector.
December 30, 2019
The KOF economic barometer—a leading composite indicator for the Swiss economy—rebounded to 96.4 points in December from November’s revised 92.6 points (previously reported: 93.0 points).
December 3, 2019
Consumer prices fell by 0.1% in November, following a 0.2% dip in October.