Swiss Investor Confidence for April at Highest Since 2010Catherine Bosley
Swiss investor confidence rose in April, climbing to the highest level since May 2010 and signaling the country’s economy is poised to pick up speed.
An index of investor and analyst expectations, which aims to predict economic developments six months in advance, increased to 20 from 2.3 in March, the ZEW Center for European Economic Research in Mannheim, Germany, and Zurich-based Credit Suisse Group AG said in a statement today.
The Swiss National Bank expects growth of as much as 1.5 percent this year. To shield the economy from the turmoil in the 17-nation currency bloc, it has a limit of 1.20 per euro on the franc to lessen the risk of deflation and recession.
Of the analysts surveyed, 65 percent expect the franc to stay constant versus the euro in the next six months, according to the statement.
The Swiss survey of 40 analysts was conducted between April 2 and 11.
In contrast, German investor confidence declined more than economists forecast in April, ZEW said yesterday. The index fell to 36.3 from a three-year high of 48.5 in March. Economists expected a drop to 41. Germany is Switzerland’s largest export market.