ZEW-CS-Financial Market Test Switzerland - Pessimistic Sentiment Alleviates

In December 2014, the economic expectations for Switzerland continue to approach a balanced level of zero points. The indicator has improved from minus 7.6 to minus 4.9 points. The surveyed analysts therefore seem to expect only a slight slowdown of the Swiss economy in the first six months of 2015. The ZEW-CS Indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six-month time horizon. It is calculated monthly by the Centre for European Economic Research (ZEW), Mannheim, in cooperation with Credit Suisse (CS), Zurich.

In December the balance of the current economic situation stands at a level of 29.3 points. Compared to the previous month, it has improved by 8.8 points. There is, however, a major gap with respect to the assessment of the economic activity in the euro area and the US, the two most important sales markets for Swiss exports. While the indicator for the euro zone points to a very difficult economic environment, standing at minus 70.0 points, the estimate for the US is highly positive, standing at plus 60.0 points. There has never been such a pronounced difference between the assessment of the economic outlook of the US and the euro zone since the launch of the survey.

Detailed Results

Detailed results are published in this month's edition of the "Financial Market Report Switzerland" and also includes survey participants' assessment of developments in other countries.

For further information please contact

Lena Jaroszek (ZEW), phone +49 (0)621 1235-380, email jaroszek@zew.de

Lukas Gehrig (Credit Suisse), phone +41 44 333 52 07, email lukas.gehrig@credit-suisse.com