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 Consumer Price Index in June 2021: -0.6 percent YoY, +0.1 percent MoM

2021-07-01

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2021-07-01

Switzerland Consumer Price Index (CPI) YoY, June 2021
The consumer price index (CPI) increased by 0.1% in June 2021 compared with the previous month, reaching 101.1 points (December 2020 = 100). Inflation was +0.6% compared with the same month of the previous year. These are the results of the Federal Statistical Office (FSO).

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Swiss Producer and Import Price Index in May 2021: +3.2 percent YoY, +0.8 percent MoM

2021-06-14

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2021-06-14

Switzerland Producer Price Index (PPI) YoY, May 2021
The Producer and Import Price Index increased in May 2021 by 0.8% compared with the previous month, reaching 102.4 points (December 2020 = 100). In particular, higher prices were seen for chemical products, rubber and plastic products, basic metals, semi-finished metal products and pharmaceutical products

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Swiss Consumer Price Index in May 2021: +0.6 percent YoY, +0.3 percent MoM

2021-06-07

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2021-06-07

Switzerland Consumer Price Index (CPI) YoY, May 2021
The consumer price index (CPI) increased by 0.3% in May 2021 compared with the previous month, reaching 101.0 points (December 2020 = 100). Inflation was +0.6% compared with the same month of the previous year. These are the results of the Federal Statistical Office (FSO).

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Swiss Trade Balance April 2021: Exports Stagnate at a High Level

2021-05-27

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2021-05-27

Switzerland Trade Balance, April 2021
After jumping 5.9% in March, exports stagnated in April, however, rising to a high level of 20 billion francs. Imports confirmed their vitality in previous months, up 3.5% to 16.8 billion francs (actual: + 2.2%). The trade balance closes with a surplus of 3.3 billion francs.

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Employment Barometer in the Q1 2021: Fell for the fourth Consecutive Time – but Outlook is Positive

2021-05-27

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2021-05-27

Switzerland Employment Level, Q1 2021
In the 1st quarter 2021, total employment (number of jobs) fell for the fourth time in a row compared with the same quarter a year earlier (–0.6%; –0.2% compared with previous quarter). In full-time equivalents, employment in the same period declined by 0.7%.

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Where Europeans Get To Work From Home

2021-05-20

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2021-05-20

Work from Home in Europe
The social distancing measures introduced in response to the Covid-19 pandemic has forced many people to work from home and accelerated the trend of remote working. Eurostat have released some interesting new data showing the share of employed people aged between 15 and 64 in Europe who usually do home office.

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Swiss Producer and Import Price Index in April 2021: +1.8 percent YoY, +0.7 percent MoM

2021-05-17

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2021-05-17

Switzerland Producer Price Index (PPI) YoY, April 2021
The Producer and Import Price Index increased in April 2021 by 0.7% compared with the previous month, reaching 101.6 points (December 2020 = 100). Higher prices were seen in particular for computer, electronic and optical products, machinery, basic metals, semi-finished metal products and metal products.

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Swiss Consumer Price Index in April 2021: -0.3 percent YoY, +0.2 percent MoM

2021-05-10

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2021-05-10

Switzerland Consumer Price Index (CPI) YoY, April 2021
The consumer price index (CPI) increased by 0.2% in April 2021 compared with the previous month, reaching 100.8 points (December 2020 = 100). Inflation was +0.3% compared with the same month of the previous year.

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Consumer sentiment back to pre-crisis level

2021-05-04

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2021-05-04

Sentiment amongst Swiss households is improving. The results of the April survey show that expectations regarding general economic development in particular are becoming more positive. The likelihood of households making major purchases has also risen. Download press release Consumer sentiment back to pre-crisis level(PDF, 2 pages, 257 kB) Other languages FR...

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The number of detainees in Switzerland at its lowest since 2011

2021-04-28

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2021-04-28

There were 6316 detained persons in Switzerland on 31 January 2021, corresponding to an 8.4% decline in numbers compared with the same reference day in 2020. The majority of inmates (65%) were detained under a custodial sentence or measure (including the accelerated execution of a sentence), 1986 persons (31%) were in remand or preventive detention and 235 persons (4%) were imprisoned for other reasons.

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Total health expenditure in 2019 at CHF 82.1bn

2021-04-27

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2021-04-27

Gesundheitskosten nach Leistungserbringern, in Millionen Franken
In 2019, the total health care expenditure in Switzerland according to international standards was CHF 82.1 billion. At 2.3%, growth in health care expenditure was below the five-year average of 2.8%. In comparison to the previous year, the percentage of gross domestic product (GDP) spent on health care at current prices rose from 11.2% to 11.3%.

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The number of MRI devices in hospitals has increased by 25 percent in 5 years

2021-04-25

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2021-04-25

23.04.2021 - In 2019, hospitals in Switzerland were equipped with 215 MRI devices, representing an increase of 25% in five years. They also had 219 scanners (+9% in five years). In total, almost 1.18 million scans and 1.06 million MRI screenings were carried out in Switzerland in 2019.

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Swiss Trade Balance Q1 2021: exports go back above their pre-Covid-19 level

2021-04-23

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2021-04-23

Switzerland Trade Balance, March 2021
During the 1st quarter of 2021 and on a seasonally adjusted basis, exports increased by 4.8% (+ 2.7 billion francs; actual: + 4.9%), signing a third consecutive quarterly increase. At 58.1 billion francs, they not only exceeded their pre-crisis level, but also their second largest quarterly result. Imports increased by 1.7% or 805 million francs (actual: + 1.9%).

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Three-quarters of employees in Switzerland record their working hours

2021-04-19

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2021-04-19

Recording of attendance and working hours in Switzerland and the EU and EFTA countries, 2019
19.04.2021 - In 2019, 73.9% of employees in Switzerland registered their working hours, whereas in the European Union (EU) only 58.1% did so. In European comparison, fixed working hours were less common in Switzerland (49.2%; EU: 60.1%) and more employed persons enjoyed a high level of job autonomy (60.4%; EU:  50.6%).

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Weekly View – M&A Boom

2021-04-13

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2021-04-13

M&A (mergers and acquisitions) activity is on the rise, as companies coming out of the pandemic with strong balance sheets shop for buying opportunities. Last week ACS, a Spanish construction group, approached Italian transport company Atlantia to buy Italy’s largest motorway network. Two big funds are also eyeing Dutch telecommunications company KPN as a potential acquisition target.

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House View, April 2021

2021-04-06

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2021-04-06

We believe that robust earnings growth will overcome concerns about rate increases. Within a neutral position on developed-market equities, we believe sectoral rotation will continue and we remain overweight cyclical markets like the UK and Japan. But while we believe the attractiveness of stocks subject to wild valuation swings will fade, we continue to like cash-rich ‘structural grower’ stocks.

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Swiss Retail Sales, February 2021: 6.9 percent Nominal and -6.3 percent Real

2021-04-01

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2021-04-01

Switzerland Retail Sales YoY, February 2021
Turnover adjusted for sales days and holidays rose in the retail sector by 6.9% in nominal terms in February 2021 compared with the previous year. Seasonally adjusted, nominal turnover fell by 5.5% compared with the previous month. These are provisional findings from the Federal Statistical Office (FSO).

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Swiss Consumer Price Index in March 2021: -0.2 percent YoY, +0.3 percent MoM

2021-04-01

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2021-04-01

Switzerland Consumer Price Index (CPI) YoY, March 2021
01.04.2021 - The consumer price index (CPI) increased by 0.3% in March 2021 compared with the previous month, reaching 100.6 points (December 2020 = 100). Inflation was –0.2% compared with the same month of the previous year. These are the results of the Federal Statistical Office (FSO).

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Europe was the main continent of residence for Swiss citizens abroad in 2020

2021-03-30

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2021-03-30

At the end of 2020, more than one in ten Swiss citizens lived abroad. Almost two thirds lived in Europe, notably in France. Their number increased by 0.7% compared with 2019. The increase in the number of persons aged 65 and over was the most marked (+2.8%). Overall, the share of women remained greater than that of men, according to the results of the statistics on the Swiss abroad from the Federal Statistical Office (FSO).

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Swiss Producer and Import Price Index in February 2021: -1.1 percent YoY, unchanged MoM

2021-03-19

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2021-03-19

Switzerland Producer Price Index (PPI) YoY, February 2021
18.03.2021 - The Producer and Import Price Index remained unchanged in February 2021 compared with the previous month. The index stood at 100.3 points (December 2020 = 100). Petroleum products as well as basic metals and semi-finished metal products in particular saw higher prices, while pharmaceutical products became cheaper.

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