- KOF
Swiss Economic Barometer, composite indicator for the Swiss economy, dropped 1.4 points to 89.5 in April, the lowest gauge since 2011, below expectations for 91.45, and down from 90.9 in March and 90.1 in February, when the SNB removed the currency peg to the shared currency. The reason for such low gauge in Aril is fall in several indicators, including manufacturing of wood products, the chemical production, the electronics industry and hotel and catering industry. The banking industry indicators are as well marginally negative, while the consumption and the construction industry are steady at the moment.
According to KOF, the economic forecast enhanced for those countries that import Swiss products, however, there has been a limited impact on the Swiss economy. The Swiss National Bank reported that after abolishment of the Franc currency cap, the bank lost 41.1 billion francs during the first three months of 2015 on forex-related losses. However, the total net losses from foreign currency positions was 29.3 billion francs amid dividend and interest income, investment-bearing paper and instruments, as well as from equity securities and instruments. During the first quarter the total loss of the SNB was 30 billion francs, compared to 4.4 billion francs gain in the Q1 2014.
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