Investing.com – Economic sentiment in Switzerland fell for the fifth consecutive month in September, as a strong Swiss franc and concerns over the euro zone’s sovereign debt crisis weighed, data showed on Thursday.
In a report, the Centre for European Economic Research (ZEW) said its indicator of economic sentiment fell by 4.3 points to minus 75.7 in September from a reading of minus 71.4 in August.
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. It recorded the worst reading in more than one year falling by 15.4 points to the 18.9 mark.
The indicator for inflation expectations also declined further. It now stands at the minus 35.1 point level.
Following the release of the data, the Swiss franc was down sharply against the U.S. dollar, with USD/CHF jumping 1.4% to trade at 0.9126.
In a report, the Centre for European Economic Research (ZEW) said its indicator of economic sentiment fell by 4.3 points to minus 75.7 in September from a reading of minus 71.4 in August.
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. It recorded the worst reading in more than one year falling by 15.4 points to the 18.9 mark.
The indicator for inflation expectations also declined further. It now stands at the minus 35.1 point level.
Following the release of the data, the Swiss franc was down sharply against the U.S. dollar, with USD/CHF jumping 1.4% to trade at 0.9126.