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.

Swiss Producer and Import Price Index in August 2017: +0.6 YoY, +0.3 MoM

The Producer and Import Price Index rose in August 2017 by 0.3% compared with the previous month, reaching 100.0 points (base December 2015 = 100). The rise is due in particular to higher prices for petroleum products and chemical products. Compared with August 2016, the price level of the whole range of domestic and imported products rose by 0.6%.

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Swiss Real Estate: The Empty Dwellings Rate Continues to Increase

On 1 June 2017, there were 64'893 empty dwellings in Switzerland, i.e. 1.47% of the entire country's dwelling stock (including single-family houses). This figure represents an increase of 8375 empty dwellings compared with the previous year, i.e. a rise of almost 15%.

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Switzerland Unemployment in August 2017: Unemployment Slightly Falling

Registered unemployment in August 2017 - At the end of August 2017 135'578 unemployed persons were registered at the Regional Employment Services Centers (RAV), according to the SECO (State Secretariat for Economic Affairs), 1'652 more than in the previous month. The unemployment rate remained at 3.0% in the reporting month. Compared to the previous month, unemployment decreased by 7'280 persons (-5.1%).

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Switzerland Q2 GDP: +0.3 percent QoQ

Switzerland's real gross domestic product (GDP) grew by 0.3 % in the 2nd quarter of 2017. Manufacturing, the financial sector and the hotel and catering in-dustry significantly boosted growth, while developments in trade, public administration and the healthcare sector were sluggish. On the expenditure side, growth was driven by domestic demand, with positive momentum coming from both consumption and investment.

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Swiss Consumer Price Index in August 2017: Consumer prices remained stable in August

The consumer price index (CPI) remained unchanged in August 2017 compared with the previous month, reaching 100.6 points (December 2015=100). Inflation was 0.5% compared with the same month of the previous year.

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Swiss Retail Sales, July 2017: -0.8 percent Nominal and -1.1 percent Real

Turnover in the retail sector fell by 0.8% in nominal terms in July 2017 compared with the previous year. Seasonally adjusted, nominal turnover fell by 1.1% compared with the previous month. These are provisional findings from the Federal Statistical Office (FSO).

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Switzerland UBS Consumption Indicator July: Weaker Swiss Franc Offers a Ray of Hope

UBS consumption indicator printed 1.38 in June, pointing to subdued growth in Swiss private consumption in recent months. Relatively weak growth in employment was much to blame for the lackluster number, however this was offset somewhat by robust new car registrations data and overnight hotel stays by Swiss nationals.

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KOF Economic Barometer Falls

In August 2017, the KOF Economic Barometer fell by 3.9 points. It thus more than reversed its previous month’s climb. With a new reading of 104.1, however, it still points to a level clearly above its long-term average. This indicates that in the near future the Swiss economy should continue to grow at above average rates.

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Structural Business Statistics 2015: Employment grows again thanks to the tertiary sector

here were 597,000 enterprises in Switzerland in 2015, i.e. an increase of 3578 entities (+0.6%) in one year. The number of jobs, measured in full-time equivalents, also saw similar growth (+0.5%). These changes were mainly due to the dynamism of very small and very large units in the tertiary sector, according to the latest findings of the structural business statistics (STATENT) from the Federal Statistical Office (FSO)

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Employment barometer in 2nd quarter 2017: Employment situation: more confident business outlook

In the 2nd quarter 2017, total employment (number of jobs) rose by 0.4% in comparison with the same quarter a year earlier (+0.1% with previous quarter). In full-time equivalents, employment in the same period rose by 0.2%. The Swiss economy counted 5700 more vacancies than in the corresponding quarter of the previous year (+10.5%) and the employment outlook indicator is also indicating an upward trend (+0.7%). These are some of the findings from...

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Swiss Trade July 2017: Exports and Imports Decline after Reaching Highest in History

In July 2017, after adjusting for working days, exports grew by 4.5%, which were less dynamic than the previous two months. Imports rose red (-0.5%). The trade balance loops with a surplus of 3.6 billion francs.

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Swiss Labour Force Survey in 2nd quarter 2017: Labour Supply: Number of Persons in Employment Rises

The number of employed persons in Switzerland rose by 1.3% in the 2nd quarter 2017 compared with the same quarter of the previous year. The unemployment rate as defined by the International Labour Organisation (ILO) fell during the same period in Switzerland from 4.6% to 4.4%. The EU's unemployment rate decreased from 8.6% to 7.6%.

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Swiss Producer and Import Price Index in July 2017: -0.1 YoY, -0,1 MoM

The Producer and Import Price Index remained unchanged in July 2017 compared with the previous month at 99.7 points (base December 2015 = 100). Petroleum products in particular became cheaper. Prices were higher for scrap, computers and metal products. Compared with July 2016, the price level of the whole range of domestic and imported products fell by 0.1%.

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Unions demand 2 percent wage increase as economy improves

Staff should start enjoying the benefits of Switzerland’s improving economic performance, says the country’s second-largest trade union group, Travail. Suisse, which is demanding a 2% salary increase for workers. “It’s been some time since the economic perspectives have looked this positive. The forecasts announce solid and lasting economic growth. This recovery must have an impact on employees,” Travail.

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Switzerland Unemployment in July 2017: Remained unchanged at 3.2 percent seasonally adjusted

Registered unemployment in July 2017 - According to the SECO, at the end of July 2017, 133,926 unemployed persons were registered with the regional employment services centers (RAVs), 323 more than in the previous month. The unemployment rate remained at 3.0% in the reporting month. Compared to the previous month, unemployment fell by 5'384 persons (-3.9%).

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Tourist accommodation in the first half of 2017: Overnight stays increased by 4.4percent in the first half of 2017

The hotel sector registered 17.6 million overnight stays in Switzerland in the first half of 2017, representing an increase of 4.4% (+738,000 overnight stays) compared with the same period a year earlier. With a total of 9.5 million overnight stays, foreign demand rose by 4.7% (+428,000). Domestic visitors registered 8.1 million overnight stays, i.e. an increase of 4.0% (+310,000).

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Swiss Consumer Price Index in June 2017: Up +0.3 percent against 2016, -0.3 percent against last month

The consumer price index (CPI) fell by 0.3% in July 2017 compared with the previous month, reaching 100.6 points (December 2015=100). Inflation was 0.3% compared with the same month of the previous year.

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Swiss Consumers more Optimistic about Economy and Job Market

Consumer sentiment in Switzerland is on the rise again in July. The index reached -3 points – well above the long-term average (-9 points). This confirms the recovery in sentiment from the lows following the sharp rise in the Swiss franc. In comparison to the survey of April, consumers’ expectations for economic growth and for the job market have become considerably more optimistic.

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Swiss Retail Sales, June: 1.1 percent Nominal and 0.5 percent Real

Turnover in the retail sector rose by 1.1% in nominal terms in June 2017 compared with the previous year. Seasonally adjusted, nominal turnover rose by 0.5% compared with the previous month. Real turnover in the retail sector also adjusted for sales days and holidays rose by 1.5% in June 2017 compared with the previous year.

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