Tag Archive: Switzerland

Research on SNB & CHF

Inflation Difference between Eurozone and Switzerland Narrows to 0.3 percent

2014-06-16

According to Swiss Statistics the inflation rate has risen to 0.2% y/y – as for both the Swiss CPI standard and the European HICP standard.

Read More »

QE, QEE, the Money Multiplier and the Secular Stagnation Confusion

In some countries, the money multiplier is falling, in some others it is increasing, mostly due to central bank tightening. Does this justify to speak of secular stagnation?

Read More »

Swiss Yearly Inflation Rate Overtakes First Eurozone Countries

2014-04-11

by George Dorgan

2014-04-11

swiss consumer price index, eurozone hicp harmonized consumer price index

According to Swiss Statistics the yearly inflation rate is at 0.0%, and the monthly rate is +0.4%. The Spanish CPI is already under zero at -0.2%, and the Italian one is at +0.3%, not to speak about severe Cyprus or Greek deflation . Still in February 2012, the difference between the Swiss and Euro …

Read More »

Swiss customs: first time detailed trade statistics for gold available; Asia main export market

emu vs. swiss m3 credit, exceeds eurozone

Switzerland is currently living in a big real estate boom. The bubble bursting would imply that banks' collateral in the form of real estate falls in value. Therefore the banks' assets might fall because many home buyers might not be able to repay their mortgage. If a real estate bubble pops, then banks should be better capitalized to absorb such a shock. Therefore the Swiss National Bank introduced macro-prudential measures, like the so-called...

Read More »

Inflation Difference between Eurozone and Switzerland Narrows to 0.5 percent

2014-01-10

by George Dorgan

2014-01-10

Another five months till Swiss inflation is higher? When the European economy starts to expand again, who will hike rates first, the SNB or the ECB? December Update According to Swiss Statistics the inflation rate remained stable at 0.1% y/y, while the inflation measured by the European HICP standard was +0.3% y/y, slightly higher than … Continue reading »

Read More »

Global Purchasing Manager Indices (outdated)

Manufacturing PMIs : most leading and important economic indicators.

Read More »

Swiss GDP Details Compared to UK, USA, Germany, Japan and Australia, Q3 2013

2013-12-03

by George Dorgan

2013-12-03

Switzerland United States USA UK Germany Australia

The Swiss GDP was again one of the strongest major economies. The quarterly growth rate in the third quarter was 0.5%, the yearly one 1.9%. U.S. GDP improved by 3.6% QoQ annualized. For comparison purposes, our figures are not annualized; hence the equivalent is 0.9% QoQ. In Japan and Switzerland private consumption rose by 0.1% … Continue reading...

Read More »

Japan Beats the United States in GDP Growth per Capita for Last Decade

GDP Growth per Capita in Developed Nations in the following order: Australia Sweden Germany Switzerland Netherlands Japan Canada United States France United Kingdom Ireland Spain Italy Greece

Read More »

European Industrial Production Still Contracting, Switzerland Expanding Again

2013-10-16

by George Dorgan

2013-10-16

Swiss industrial production is rather insensitive to price changes and to the recent slowing of global demand thanks to the concentration on pharmaceuticals and luxury products. Based on Eurostat’s industrial production for July and August , we compared the values from 2010 to 2013 for these two summer months. This aggregated two-months comparison is …

Read More »

Before and After Lehman: Switzerland and the United States Compared

Yearly Immigration to Switzerland United States 2013 2002

In this analysis we describe why the long-lasting financial cycle of debt reduction is one key driver of the EUR/CHF exchange rate. We claim that EUR/CHF can rise more strongly only when the competitiveness of the European periphery increases. When this happens, then debt will be reduced and both public and private deficit spending will stop.

Read More »

A Nationalization of Swiss Foreign Assets? SNB Owns 56% of Swiss Net International Investment Position

Net International Invest Position Switzerland

The SNB currently owns 56% of the Swiss net international investment position (“NIIP”). In the year 2007 this number was only 12%. Is the central bank implicitly nationalizing the Swiss international companies?

Read More »

Swiss industrial production unimpressed by global slowing

2013-07-08

by George Dorgan

2013-07-08

Swiss industrial production rose by 3% in the first quarter 2013 compared with the same quarter of the previous year. Turnover rose by 3.7%. Details

Read More »

The End of Swiss Deflation

2013-07-05

by George Dorgan

2013-07-05

The yearly change of the Swiss consumer price index has risen from -0.5% to -0.1%, the end of deflation is near. Swiss inflation measured with the European standard HICP has even improved to +0.2% y/y. Details

Read More »

Excessive Money Supply: Switzerland Could Follow in Spain’s and Ireland’s Footsteps

In the Euro zone bank lending is contracting, M3 is rising very slowly. As opposed to that, Swiss bank lending is currently rising by 4.4% per year, M3 is increasing by 10% per year.

Read More »

Swiss home price to income ratio small in historic and global comparison

Swiss US UK Germany Home Price to Income a

Based on four different data source, we find out that Swiss home price to income ratio is small in global comparison. Therefore we wonder why the SNB must contain home price rises, but the Fed must artificially increase them.

Read More »

Italian Retail Prices Remain close to Switzerland, Germany Far Cheaper

2013-06-16

by George Dorgan

2013-06-16

Disinflation Finally Starting in Italy The Swiss site preisbarometer.ch is run by the Swiss Consumer Association. Their price data shows that a food basket is 46% more expensive when compared between the German “Kaufland” shop and the Swiss “Coop”. Going to France into “Leclerc” gives you an advantage of 38% against Coop. However, for a …

Read More »

Swiss Inflation Rises, Services Up 0.6 percent YoY, Goods Swiss Origin +0.3 percent, Energy Tames

2013-06-06

by George Dorgan

2013-06-06

Switzerland Inflation Eurozone April 2013

Cheaper energy prices and long-lasting contracts help against inflation. Swiss inflation increased by 0.1% against April. According to Swiss Statistics, on a year basis, the CPI fell by 0.5%. Major reasons for lower figures were the 6.3% YoY decrease in energy prices, 4.5% YoY lower clothes and footwear price and technological improvements in communication that caused … Continue reading »

Read More »