Investing.com - Economic sentiment in Switzerland improved more-than-expected in January, hitting the highest level since June 2010, industry data showed on Wednesday.
In a report, the Centre for European Economic Research (ZEW) said its indicator of economic sentiment improved by 16.9 points to a reading of 10.0 in January from a reading of minus 6.9 in December.
Analysts had expected the index to improve by 7.9 points to 1.0 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 added to gains against the U.S. dollar, with USD/CHF shedding 0.37% to trade at 0.9192.
In a report, the Centre for European Economic Research (ZEW) said its indicator of economic sentiment improved by 16.9 points to a reading of 10.0 in January from a reading of minus 6.9 in December.
Analysts had expected the index to improve by 7.9 points to 1.0 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 added to gains against the U.S. dollar, with USD/CHF shedding 0.37% to trade at 0.9192.