Fiscal Balance in Switzerland
Switzerland - Fiscal BalanceEconomic data for Q1 and Q2 paints a grim picture: The KOF barometer tumbled at a record rate in April; consumer confidence plunged to its lowest level since the early 1990s in Q2; the unemployment rate jumped 0.4 percentage points to 2.9% in March; and retail sales were battered in the same month. The services sector has been particularly hard hit from containment measures. In response, the government has ramped up its fiscal response, doubling the size of its loan guarantee program, expanding the short-time work program, and extending wage subsidies. While the sweeping measures are the largest ever enacted, bringing total spending to over CHF 65 billion (roughly 9% of GDP), they will not be able to prevent an economic contraction. On 16 April, the government also announced its plan to gradually reboot the economy. The news should help alleviate uncertainty, although the slow retraction of restrictions suggests the recovery will be gradual.
Switzerland - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-0.2||0.6||0.3||1.2||-|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||-0.51||6.27 %||Jan 01|
|Exchange Rate||0.97||-0.54 %||Jan 01|
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May 29, 2020
OF economic barometer—a leading composite indicator for the Swiss economy— fell to 53.2 points in May from a revised 59.7 in April (previously reported: 63.5 points).
May 5, 2020
Consumer prices fell 0.4% over the previous month in April, contrasting the 0.1% increase seen in March.
Switzerland: Services sector PMI falls to fresh record low in April; manufacturing PMI drops further
May 4, 2020
The manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch fell to 40.7 in April from 43.7 in March.
April 30, 2020
The KOF economic barometer—a leading composite indicator for the Swiss economy— fell to 63.5 points in April from a revised 91.7 in March (previously reported: 92.9 points).
April 30, 2020
Retail sales fell at the sharpest rate in the series’ history in March, with calendar-adjusted real retail sales falling 5.6% on an annual basis (February: +0.3% year-on-year).