"Most analysts surveyed do not expect the economic situation to change much over the next six months"
- Credit Suisse
Swiss investor confidence improved slightly this month, however, still remains in the negative territory, suggesting the economy may struggle to gain the momentum. According to the ZEW Center for European Economic Research, its index, which reflects the expectations of the future economic performance, rose to minus 27.9 in November, up from minus 28.9 in the previous month. At the same time, the gauge of the economic situation jumped to zero compared to a reading of -4.4 in October.
"Most analysts surveyed do not expect the economic situation to change much over the next six months," Credit Suisse said. "Based on their expectations, economic growth should therefore remain subdued."
"The Swiss economy will have to get used to a weaker economic momentum," said VP Bank economist Bernd Hartmann. "There is a lack of fresh impulses in the shape of investments despite record low interest rates."
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, tumbled 0.68 per cent to 6,676.96. The broader Swiss Performance Index fell 0.66 per cent to stand at 6,136.15.
© Dukascopy Bank SA