Investing.com - Economic sentiment in Switzerland deteriorated unexpectedly in January, one month after hitting the highest level since May 2010, industry data showed on Wednesday.
In a report, the Centre for European Economic Research (ZEW) said its indicator of economic sentiment declined by 3.0 points to a reading of 36.4 this month from a reading of 39.4 in December. Analysts had expected the index to improve to 44.0 in January.
The indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six-month time horizon.
A reading above 0.0 on the indicator indicates optimism, while a score below 0.0 indicates pessimism.
Following the release of the data, the Swiss franc was lower against the U.S. dollar, with USD/CHF adding 0.14% to trade at 0.9115.
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Swiss ZEW economic expectations decline to 36.4 in January
Published 01/22/2014, 05:10 AM
Swiss ZEW economic expectations decline to 36.4 in January
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