Category Archive: 2) Swiss and European Macro

Main Author George Dorgan
George Dorgan
George Dorgan (penname) predicted the end of the EUR/CHF peg at the CFA Society and at many occasions on SeekingAlpha.com and on this blog. Several Swiss and international financial advisors support the site. These firms aim to deliver independent advice from the often misleading mainstream of banks and asset managers. George is FinTech entrepreneur, financial author and alternative economist. He speak seven languages fluently.
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Swiss Trade Balance October 2022: declining foreign trade

2022-11-18

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2022-11-18

In October 2022 and after two consecutive monthly increases, seasonally adjusted exports fell by 1.1% (real: −1.8%). However, they remain on a positive trend. Imports fell by 1.4% over one month (actual: −0.8%), but have stagnated since the middle of the year. The trade balance ends with a surplus of 3 billion francs, the highest recorded in the last six months.

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Residential property prices increased by 1.2% in 3rd quarter 2022

2022-11-16

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2022-11-16

The Swiss residential property price index (IMPI) rose in the 3rd quarter 2022 compared with the previous quarter by 1.2% and reached 114.6 points (4th quarter 2019 = 100). Compared with the same quarter of the previous year, inflation was 6.3%.

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Swiss Producer and Import Price Index in October 2022: +4.9 percent YoY, unchanged MoM

2022-11-15

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2022-11-15

Switzerland Producer Price Index (PPI) YoY, October 2022
The Producer and Import Price Index remained unchanged in October 2022 compared with the previous month. The index stood at 109.8 points (December 2020 = 100). Natural gas in particular became more expensive. In contrast, petroleum products showed falling prices.

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Switzerland Gross domestic product fell in almost all cantons in 2020

2022-10-21

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2022-10-21

2020 was marked by the COVID-19 pandemic, which affected the entire regional economic fabric in Switzerland. National growth in gross domestic product (GDP) fell to –2.4% at the previous year's prices and almost all cantons recorded a decline in activity. Jura was the most affected (–8.5%), followed by Neuchâtel (–6.5%), Glarus (–5.3%) and Ticino (–5.2%).

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Swiss Trade Balance 3nd quarter 2022: foreign trade remains in rise

2022-10-20

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2022-10-20

Swiss exports and imports, seasonally adjusted (in bn CHF), Q3 2022
Also in the 3rd quarter of 2022, Swiss foreign trade experienced a positive development: while exports increased by 1.3%, imports grew by 0.8%. However, the latter have lost their vigor since the middle of the year. Both imports and exports nevertheless posted a record quarterly result. The trade balance closes with a surplus of 8 billion francs.

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The number of teachers in compulsory education is expected to grow by around 6 percent by 2031

2022-10-14

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2022-10-14

The number of teachers in compulsory education is expected to rise by around 6% up until 2031 due to population growth. Between 43 000 and 47 000 new primary teachers will have to be recruited by then.  For the lower secondary level, between 26 000 and 29 000 new teachers will be needed.

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Swiss Producer and Import Price Index in September 2022: +5.4 percent YoY, +0.2 percent MoM

2022-10-13

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2022-10-13

Switzerland Producer Price Index (PPI) YoY, September 2022
The Producer and Import Price Index rose in September 2022 by 0.2% compared with the previous month, reaching 109.8 points (December 2020 = 100). In particular, petroleum and natural gas as well as agricultural products saw higher prices.

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In 2021, 58% of buildings were heated by fossil fuels

2022-10-07

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2022-10-07

In 2021, there were 1.77 million residential buildings and 4.69 million dwellings in Switzerland. 58% of buildings were heated by fossil fuels (heating oil and gas) and 17% were equipped with heat pumps. The share of the latter has quadrupled since 2000. In terms of the population, one person in four had gas heating.

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Swiss Consumer Price Index in September 2022: +3.3 percent YoY, -0.2 percent MoM

2022-10-03

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2022-10-03

Switzerland Consumer Price Index (CPI) YoY, September 2022
The consumer price index (CPI) fell by 0.2% in September 2022 compared with the previous month, reaching 104.6 points (December 2020 = 100). Inflation was +3.3% compared with the same month of the previous year.

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Swiss Retail Sales, August 2022: 5.4 percent Nominal and 3.0 percent Real

2022-09-30

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2022-09-30

Switzerland Retail Sales YoY, August 2022
Retail trade turnover adjusted for sales days and holidays grew by 5.4% in nominal terms in August 2022 compared with the same month of the previous year, with price increases driving this growth. Seasonally adjusted, nominal turnover rose by 1.5% compared with the previous month.

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Marked slowdown on the horizon

2022-09-21

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2022-09-21

The expert group on business cycles has significantly downgraded its expectations for Switzerland's GDP growth to 2.0% for 2022 and 1.1% for 2023 (GDP adjusted for sporting events). After a positive first half of the year 2022, the Swiss economy now faces a deteriorating outlook. A tense energy situation and sharp price increases are weighing on economic prospects, especially in Europe.

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Swiss Producer and Import Price Index in August 2022: +5.5 percent YoY, -0.1 percent MoM

2022-09-14

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2022-09-14

Switzerland Producer Price Index (PPI) YoY, August 2022
The Producer and Import Price Index fell in August 2022 by 0.1% compared with the previous month, reaching 109.6 points (December 2020 = 100). Lower prices were seen in particular for petroleum products, basic metals and semi-finished metal products. In contrast, chemical products became more expensive.

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Federal Council adopts report on income differences between women and men

2022-09-08

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2022-09-08

At its meeting on 7 September 2022, the Federal Council adopted the report on the recording of the gender overall earnings gap and other indicators on gender-specific income differences. It provides new key figures for Switzerland and places them in relation to existing indicators. In addition, the report also offers interpretation aids to help place the results in an economic, social and institutional context.

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Swiss Retail Sales, July 2022: 4.6 percent Nominal and 2.6 percent Real

2022-09-05

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2022-09-05

Switzerland Retail Sales YoY, July 2022
Turnover adjusted for sales days and holidays rose in the retail sector by 4.6% in nominal terms in July 2022 compared with the previous year, with just under half of this upturn due to price increases. Seasonally adjusted, nominal turnover fell by 0.3% compared with the previous month.

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Sustained increase in Switzerland’s GDP in 2021

2022-09-01

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2022-09-01

Switzerland Gross Domestic Product (GDP) YoY, Q1 2022
Switzerland's gross domestic product (GDP) increased by 4.2% in 2021 at the previous year’s prices. This marked increase follows the decline seen in 2020 (-2.4%) due to the start of the COVID-19 pandemic. Thanks to this recovery, the GDP is above the 2019 level, although parts of the Swiss economy continued to be affected by the pandemic situation.

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Swiss Consumer Price Index in August 2022: +3.5 percent YoY, +0.3 percent MoM

2022-09-01

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2022-09-01

Switzerland Consumer Price Index (CPI) YoY, August 2022
The consumer price index (CPI) increased by +0.3% in August 2022 compared with the previous month, reaching 104.8 points (December 2020 = 100). Inflation was +3.5% compared with the same month of the previous year.

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Number of businesses and jobs fell in 2020 for the first time since 2011

2022-08-26

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2022-08-26

25.08.2022 - In 2020, the Swiss economy had almost 617 000 businesses and just under 5.3 million jobs. After uninterrupted growth since the start of the statistical series in 2011, the number of businesses and jobs has declined for the first time. Compared with 2019, around 900 fewer units and 33 000 fewer workplaces were recorded, a decline of 0.1% and 0.6% respectively.

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Swiss Producer and Import Price Index in July 2022: +6.3 percent YoY, -0.1 percent MoM

2022-08-15

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2022-08-15

Switzerland Producer Price Index (PPI) YoY, July 2022
The Producer and Import Price Index fell in July 2022 by 0.1% compared with the previous month, reaching 109.7 points (December 2020 = 100). Lower prices were seen in particular for basic metals and semi-finished metal products. Compared with July 2021, the price level of the whole range of domestic and imported products rose by 6.3%.

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Swiss Retail Sales, June 2022: +3.2 percent Nominal and +1.2 percent Real

2022-07-29

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2022-07-29

Switzerland Retail Sales YoY, June 2022
Turnover adjusted for sales days and holidays rose in the retail sector by 3.2% in nominal terms in June 2022 compared with the previous year. Seasonally adjusted, nominal turnover rose by 0.1% compared with the previous month.

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Swiss Trade Balance 2nd quarter 2022: 8th consecutive quarterly increase

2022-07-19

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2022-07-19

Switzerland Trade Balance, Q2 2022
Swiss foreign trade strengthened further in both traffic directions in the 2nd quarter of 2022, reaching new highs. Exports increased by 0.9% and imports by 2.4% compared to the previous quarter. Prices have risen both at entry and exit. The trade balance closes with a surplus of 7.6 billion francs.

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