"We are seeing improvements in the euro zone so probably we will see some stabilization of exports..."
- Credit Suisse economist Maxime Botteron
Swiss trade surplus widened more than expected last month, as exports rose slightly, the Federal Statistical Office reported Thursday. Nation's trade balance rose to a seasonally adjusted CHF 2.015B in September, up from CHF 1.606B in August. Exports from Switzerland rose 0.9 per cent, while exports to China tumbled 16.3 per cent in September.
"The figures confirm the picture that Switzerland is feeling the weakness of the global economy," said Sarasin economist Alessandro Bee. "Up until now that was largely coming from peripheral Europe but we're increasingly seeing that the strong growth in emerging markets is slowing."
"We are seeing improvements in the euro zone so probably we will see some stabilization of exports, but we will also probably still have to wait for higher demand from the euro zone so the Swiss National Bank's floor for the euro-Swiss franc is still justified," said Credit Suisse economist Maxime Botteron.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, fell 0.07 per cent to 6,781.72. The broader Swiss Performance Index lost 0.03 per cent to 6,252.96.
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