Category Archive: Swiss 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.

Income and living conditions (SILC) 2015: Poverty in Switzerland: 7% of the Swiss population were affected by income poverty

Neuchâtel, 15.05.2017 (FSO) - In 2015 approximately 570 000 people were affected by income poverty in Switzerland. Just under 145,000 of these were employed. The groups most affected were persons living alone or in single parent households with minor...

Swiss Producer and Import Price Index in April 2017: +0.8 YoY, -0.2 MoM

The Producer and Import Price Index fell in April 2017 by 0.2% compared with the previous month, reaching 100.1 points (base December 2015 = 100). This decline is due in particular to lower prices for petroleum products and machinery. Compared with...

Swiss Consumer Price Index in April 2017: Up +0.4 percent against 2016, +0.2 percent against last month

The consumer price index (IPC) increased by 0.2% in April 2017 compared with the previous month, reaching 100.9 points (December 2015=100). Inflation was 0.4% compared with the same month the previous year. These are the results of the Federal...

Switzerland Unemployment in April 2017: Unchanged at 3.3 percent seasonally adjusted

Registered unemployment in April 2017 - At the end of April 2017, 146,327 unemployed persons were registered with the Regional Employment Services Centers (RAV), according to the SECO surveys, 5,953 less than in the previous month. The unemployment...

Swiss real estate market UBS Swiss Real Estate Bubble Index Q1 2017

The UBS Swiss Real Estate Bubble Index remained in the risk zone at 1.39 points in the first quarter of 2017 following a moderate increase. The increase in home prices outpaced the increase in rents and income. Demand for buy-to-let investments also...

Consumer Sentiment Stands Near its Average

With an index value of -8 points, Swiss consumer sentiment in April 2017 is virtually at its long-term average, having been slightly more optimistic in January (-3 points). While expectations for overall economic developments are above average in...

Swiss Retail Sales, March: +1.8 percent Nominal and +0.7 percent Real

Turnover in the retail sector rose by 1.8% in nominal terms in March 2017 compared with the previous year. This is the sharpest increase since June 2014. Seasonally adjusted, nominal turnover rose by 0.6% compared with the previous month. These are...

Swiss wage index 2016: Nominal wage increase of 0.7 percent in 2016. Real wages rise by 1.1 percent.

The Swiss nominal wage index rose by +0.7% on average in 2016 compared with 2015. It settled at 100.7 points (base 2015 = 100). Given a negative average annual inflation rate of -0.4%, real wages registered an increase of +1.1% (101.1 points, base 2015...

KOF Economic Barometer April: Is Easing

In April, the KOF Economic Barometer does not continue its upward tendency, which started at the beginning of 2017, but has declined slightly. However, despite the decline, the indicator is still well above its long-term average. It still indicates a...

Swiss Trade Balance March 2017: Increase in Exports and Stagnation of Imports

Swiss exports are moving more and more toward higher value sectors: away from watches, jewelry and manufacturing towards chemicals and pharmaceuticals. With currency interventions, the SNB is trying to keep sectors alive, that would not survive without...

Switzerland UBS Consumption Indicator March: Problem child in retail

The UBS consumption indicator registered at 1.50 points in March, indicating private consumption growth around the long-term average. Solid automotive demand drove this figure. Domestic tourism, on the other hand, took a breather after a strong start...

Swiss Producer and Import Price Index in March 2017: +1.3 YoY, +0.1 MoM

The Producer and Import Price Index rose in March 2017 by 0.1% compared with the previous month, reaching 100.3 points (base December 2015 = 100). The slight rise is due in particular to higher prices for scrap. Compared with March 2016, the price...

Switzerland Unemployment in March 2017: Unchanged at 3.3 percent seasonally adjusted

Registered unemployment in March 2017 - According to the State Secretariat for Economic Affairs (SECO) surveys, 152,280 unemployed persons were registered at the regional employment services centers (RAV) at the end of March 2017, 7,529 less than in...

Swiss Consumer Price Index in March 2017: Up +0.6 percent against 2016, +0.2 percent against last month

The consumer price index (IPC) increased by 0.2% in March 2017 compared with the previous month, reaching 100.7 points (December 2015=100). Inflation was 0.6% compared with the same month the previous year. These are the results of the Federal...

Swiss Retail Sales, February: +0.5 percent Nominal and +0.6 percent Real

Turnover in the retail sector rose by 0.5% in nominal terms in February 2017 compared with the previous year. However, excluding turnover from service stations, retail turnover fell by 0.3%. Seasonally adjusted, nominal turnover rose by 0.9% compared...

KOF Economic Barometer February: Continues to Rise

In March 2017, the KOF Economic Barometer rose by 0.7 points to a new reading of 107.6. It thus reinforces its previous month’s climb to a level clearly above its long-term average. This indicates that the Swiss economy should grow at above average...

Switzerland UBS Consumption Indicator February: Domestic tourism rising

The UBS consumption indicator rose to 1.50 points in February from 1.44, indicating solid private consumption in the first quarter. Domestic tourism bottomed out and then rose significantly in January. On the other hand, dour sentiment in the retail...

Results of the new pensions statistics 2015: Large differences between genders and age groups in pillar 2 and 3a old-age benefits

In 2015 approximately 33,000 persons obtained an old-age pension for the first time from the occupational pension fund (2nd pillar), while some 41,000 persons received a lump-sum withdrawal from their 2nd pillar retirement savings. Men received far...

Vollgeld? Geht schon!

Der Bundesrat, Economiesuisse und die die Schweizerische Nationalbank haben die Vollgeldinitiative salopp (oder populistisch?) als Hochrisikoexperiment zur Ablehnung empfohlen. In ihrer Überheblichkeit gehen sie davon aus, dass dies auch so geschehen...
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