Current Account in Switzerland
Switzerland - Current AccountIn 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
|Current Account (% of GDP)||11.3||9.9||6.4||8.2||12.2|
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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July 4, 2022
Consumer prices increased 0.50% in June over the previous month, which was below the 0.65% rise logged in May.
July 1, 2022
The Credit Suisse/procure.ch Manufacturing Purchasing Managers' Index (PMI) fell to 59.1 in June from May's 60.0.
June 30, 2022
The KOF Economic Barometer came in at 96.9 in June, down from May's 97.7.
June 30, 2022
Retail sales fell 1.6% year on-year in calendar-adjusted terms in May (April: -5.5% c.a.
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%.