FOREX TradingCharts.com

Financial News: Swiss Consumer Confidence, Services Expansion Improve; Fac

Swiss Consumer Confidence, Services Expansion Improve; Factory Growth Slows

02/01/2019 - 06:31:00 (RTTNews)

(RTTNews) - Switzerland's consumer confidence improved further in the three months to January as expectations regarding the labor market and personal financial situation improved, survey data from the State Secretariat for Economic Affairs, or SECO, showed on Friday.

Elsewhere, the purchasing managers survey from Credit Suisse and procure.ch showed that manufacturing growth slowed in January, while services expansion gained further on the back of healthy order book balances. The consumer confidence index fell to -4 from -6.1 in October. Economists had forecast a score of -5. The index score remained above its long-term average of -9.

The latest reading was the highest since the second quarter of 2018, when it was 1.9.

"The sentiment has remained stable overall, with signs of a recovery and of a slowdown broadly balanced," the SECO said. The survey showed that the assessment of the general economy has deteriorated amid a sharp decline in the gross domestic product and the weaker expectations regarding outlook suggest that consumers expect the slowdown to continue.

"Consumers are therefore predicting a weaker general economic situation but not a recession," the SECO said.

In December, the SECO slashed the growth forecast for this year to 1.5 percent from 2 percent, citing weak domestic demand.

The Swiss National Bank has forecast nearly 1.5 percent growth for this year.

The Swiss economy shrunk 0.2 percent in the third quarter and the performance likely remained weak in the final three months of 2018.

The foreign demand for Swiss products is expected to flatten out and the export economy to lose momentum with the euro area likely to slow faster than estimated.

Separately, the Federal Statistical Office reported on Friday that retail sales decreased 0.3 percent year-on-year and 0.2 percent from the previous month in December. The Credit Suisse/procure.ch survey showed that the manufacturing Purchasing Managers' Index dropped to 54.3 from 57.5 in December. Economists had forecast a score of 56.4. The services PMI rose to a four-month high of 59.8 in January from 56.2 in December. A PMI score above 50 suggests expansion in the sector.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Belgium Business Confidence Continues To Deteriorate (19 min(s), 02 sec(s) ago)
(RTTNews) - Belgium's business confidence weakened further in February, amid further deteriora ...Full Story»

German Business Confidence Weakens For Sixth Month (25 min(s), 58 sec(s) ago)
(RTTNews) - Germany's business confidence fell for a sixth straight month in February to its l ...Full Story»

Croatia Inflation Slows For Third Month (01 hr(s), 05 min(s), 58 sec(s) ago)
(RTTNews) - Croatia's consumer price inflation slowed for a third straight month in January to ...Full Story»

Hong Kong Inflation At 5-month Low (01 hr(s), 14 min(s), 58 sec(s) ago)
(RTTNews) - Hong Kong's consumer price inflation eased marginally in January to a five-month l ...Full Story»

Slovakia HICP Inflation At 3-month High (01 hr(s), 56 min(s), 58 sec(s) ago)
(RTTNews) - Slovakia's EU measure of inflation accelerated in January to its highest level in ...Full Story»

Austria Inflation Lowest Since Dec. 2016 (02 hr(s), 11 min(s), 58 sec(s) ago)
(RTTNews) - Austria consumer price inflation eased marginally in January to its lowest level in ov ...Full Story»

Malaysia Consumer Prices Fall In January (03 hr(s), 12 min(s), 58 sec(s) ago)
(RTTNews) - Malaysia's consumer prices fell in January, led by a sharp decline in transport co ...Full Story»

Eurozone Inflation Slows For Third Month; Flash Confirmed (03 hr(s), 30 min(s), 58 sec(s) ago)
(RTTNews) - Eurozone's inflation eased for a third straight month in January to its lowest lev ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Belgium Business Confidence Continues To Deteriorate

02/22/2019 - 09:30 AM (RTTNews)
(RTTNews) - Belgium's business confidence weakened further in February, amid further deteriora ...Full Story>>

German Business Confidence Weakens For Sixth Month

02/22/2019 - 08:45 AM (RTTNews)
(RTTNews) - Germany's business confidence fell for a sixth straight month in February to its l ...Full Story>>

Croatia Inflation Slows For Third Month

02/22/2019 - 08:05 AM (RTTNews)
(RTTNews) - Croatia's consumer price inflation slowed for a third straight month in January to ...Full Story>>

Hong Kong Inflation At 5-month Low

02/22/2019 - 07:56 AM (RTTNews)
(RTTNews) - Hong Kong's consumer price inflation eased marginally in January to a five-month l ...Full Story>>

Slovakia HICP Inflation At 3-month High

02/22/2019 - 07:14 AM (RTTNews)
(RTTNews) - Slovakia's EU measure of inflation accelerated in January to its highest level in ...Full Story>>
These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.