ZEW-CS Financial Market Test Switzerland - Economic Expectations Approach Three-Year-High

In April 2013 the ZEW-CS Indicator of economic expectations for Switzerland, continues its race to catch up which had started in October 2012 and was temporarily interrupted last month. The indicator increases by 17.7 points to a level of 20.0 points. This is the highest level since May 2010. At that time the indicator amounted to 40.5 points. This month’s positive change reflects financial analysts’ growing optimism towards Switzerland’s economic outlook.

The ZEW-CS Indicator is calculated monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). The indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six-month time horizon.

The share of analysts who foresee economic conditions to deteriorate over the next six months decreases for the seventh time in a row and amounts to only ten per cent in April 2013. However, with a share of 60 per cent the largest group of analysts still expects a stable economic development on a six month time horizon.

Since the beginning of this year the assessment of the current economic situation for Switzerland is on a stable level. In April the indicator of the current economic situation remains nearly unchanged at a level of 15.0 points. Still, three out of four survey participants consider the current economic environment as "normal". This assessment is similar to the experts’ opinion on the export momentum of Swiss economy, a topic which was included in this month’s financial market survey for the first time: 71.1 per cent of experts assess current export momentum to be “normal”.

For further information please contact

Lena Jaroszek (ZEW), Phone +49 621/1235380, E-mail jaroszek@zew.de

Maxime Botteron (Credit Suisse), Phone +41 443329061, E-mail maxime.botteron@credit-suisse.com