Fiscal Balance in Switzerland
Switzerland - Fiscal BalanceThe economy floundered in Q3 due to falling exports and weaker domestic growth, while Q4 data has thus far been mixed. The KOF economic barometer fell again in November and the unemployment rate inched up in the same month. Nevertheless, retail sales rebounded in October and the manufacturing PMI recovered in November. Meanwhile, lengthy negotiations with the EU over an institutional framework agreement, to closer align Swiss law with EU regulations, have become more contentious in recent weeks. On 7 December the Federal Council refused to approve the draft agreement, and instead vied to hold a public consultation over key objections, particularly over concerns that it would infringe upon Switzerland’s sovereignty and erode wages. In turn, the EU had previously threatened to let the Swiss stock exchange equivalence—which allows for cross-border trading—expire in January if lawmakers rejected the treaty but has recently extended the deadline to mid-2019. Failure to reach an agreement could result in the loss of substantial trading activity, which would deal a blow to the Alpine economy.
Switzerland - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-0.4||-0.2||0.6||0.4||1.2|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||-0.23||6.27 %||Jan 21|
|Exchange Rate||1.00||-0.54 %||Jan 21|
|Stock Market||9,011||-0.82 %||Jan 21|
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January 9, 2019
Consumer prices fell 0.3% over the prior month in December, matching the decline logged in November.
January 8, 2019
According to the Swiss Federal Statistics Office, calendar-adjusted real retail sales fell 0.5% over the same month a year prior in November, following the upwardly revised 1.0% increase registered in October (previously reported: +0.8% year-on-year).
January 7, 2019
The manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch inched up to 57.8 points in December from 57.7 points in November.
December 28, 2018
The KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—fell to 96.3 points in December from a downwardly revised 98.9 points in November (previously reported: 99.1 points).
December 13, 2018
At its meeting on 13 December, the Swiss National Bank (SNB) maintained the target range for the three-month Libor at between minus 1.25% and 0.25%, where it has been since January 2015.