Swiss Investor Confidence Climbed in January, Credit Suisse SaysZoe Schneeweiss
Swiss investor confidence rose in January for the fourth straight month to the highest level since May 2012, 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 minus 6.9 from minus 15.5 in December, the ZEW Center for European Economic Research in Mannheim, Germany, and Zurich-based Credit Suisse Group AG said in a statement today. A gauge of the economic situation advanced to 16 from 6.6.
Switzerland’s export-driven economy expanded in the third quarter at the fastest pace since 2010 as the economy returned to growth. Still, economic output contracted in December and the strong franc has hurt exports.
“While the share of analysts expecting a deterioration of the economy remains broadly constant” at 20.5 percent in January compared with 22.2 percent in December, “there are more analysts expecting an improvement in economic conditions over the next six months (13.6% versus 6.7%),” Credit Suisse said.
The Swiss survey was conducted between Jan. 7 and Jan. 18. In Germany, investor confidence climbed to the highest in 2 1/2 years in January, suggesting that Europe’s largest economy may gather momentum, ZEW said yesterday.