Swiss investor confidence rose in February for the fifth straight month, adding to signs the economy may be stabilizing.
An index of investor and analyst expectations that aims to predict economic developments six months in advance climbed to 10 from minus 6.9 in January, the ZEW Center for European Economic Research in Mannheim, Germany, and Zurich-based Credit Suisse Group AG said in a statement today. That’s the highest level since June 2010.
The Swiss economy expanded in the third quarter at the fastest pace since 2010, allaying concerns the export-driven economy is suffering from a strong currency. The Swiss National Bank has set a limit of 1.20 per euro on the franc to lessen the risk of deflation and recession.
The outlook “reflects a resurgence of optimism,” Credit Suisse said. “Only 18 percent of the survey participants think that the outlook for the economy will deteriorate.”
The Swiss survey was conducted between Feb. 4 and Feb. 15. In Germany, investor confidence jumped to 48.2 from 31.5, exceeding economists’ expectations, the ZEW said yesterday.