Investing.com - Economic sentiment in Switzerland improved more-than-expected in April, 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 improved by 17.7 points to a reading of 20.0 in April from a reading of 2.3 in March.
Analysts had expected the index to improve by 2.7 points to 5.0 in April.
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 held on to gains against the U.S. dollar, with USD/CHF shedding 0.1% to trade at 0.9217.
In a report, the Centre for European Economic Research (ZEW) said its indicator of economic sentiment improved by 17.7 points to a reading of 20.0 in April from a reading of 2.3 in March.
Analysts had expected the index to improve by 2.7 points to 5.0 in April.
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 held on to gains against the U.S. dollar, with USD/CHF shedding 0.1% to trade at 0.9217.