Investing.com – Economic sentiment in Switzerland deteriorated for the second consecutive month in December, as Europe’s ongoing sovereign debt crisis continued to weigh on sentiment, data showed on Wednesday.
In a report, the Centre for European Economic Research (ZEW) said its indicator of economic sentiment fell by 7.7 points to minus 72.0 in December from a reading of minus 64.3 in November.
A reading above 0.0 on the indicator indicates optimism, while a score below 0.0 indicates pessimism.
The indicator for the assessment of the current economic situation also continued to follow its downward trend. The balance for the assessment recorded deterioration by 15.2 points to the minus 20.0 threshold.
The indicator for inflation expectations increased. It now stands at the minus 6.0 point level.
Following the release of the data, the Swiss franc was modestly higher against the U.S. dollar, with USD/CHF easing down 0.04% to trade at 0.9451.
In a report, the Centre for European Economic Research (ZEW) said its indicator of economic sentiment fell by 7.7 points to minus 72.0 in December from a reading of minus 64.3 in November.
A reading above 0.0 on the indicator indicates optimism, while a score below 0.0 indicates pessimism.
The indicator for the assessment of the current economic situation also continued to follow its downward trend. The balance for the assessment recorded deterioration by 15.2 points to the minus 20.0 threshold.
The indicator for inflation expectations increased. It now stands at the minus 6.0 point level.
Following the release of the data, the Swiss franc was modestly higher against the U.S. dollar, with USD/CHF easing down 0.04% to trade at 0.9451.