Investing.com – Economic sentiment in Switzerland deteriorated in November, as Europe’s ongoing sovereign debt crisis continued to weigh on sentiment, data showed on Thursday.
In a report, the Centre for European Economic Research (ZEW) said its indicator of economic sentiment fell by 9.9 points to minus 64.3 in November from a reading of minus 54.4 in October.
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 16.2 points to the minus 4.8 mark.
The indicator for inflation expectations also declined further. It now stands at the minus 17.0-point level.
Following the release of the data, the Swiss franc remained lower against the U.S. dollar, with USD/CHF gaining 0.29% to trade at 0.9222.
In a report, the Centre for European Economic Research (ZEW) said its indicator of economic sentiment fell by 9.9 points to minus 64.3 in November from a reading of minus 54.4 in October.
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 16.2 points to the minus 4.8 mark.
The indicator for inflation expectations also declined further. It now stands at the minus 17.0-point level.
Following the release of the data, the Swiss franc remained lower against the U.S. dollar, with USD/CHF gaining 0.29% to trade at 0.9222.