Friday December 09 2016
Swiss Jobless Rate Rises To 7-Month High
Seco l Rida Husna | rida@tradingeconomics.com

Swiss unadjusted unemployment rate increased to 3.3 percent in November of 2016, compared to a 3.2 percent in the previous month. It was the highest jobless figure since April, as the number of unemployed went up. Adjusted for seasonal factors, the unemployment rate also stood at 3.3 percent, unchanged from the prior two months.

In November, there were 149,228 unemployed persons enrolled at the regional employment centers, about 4,697 more persons than in the previous month. Compared to the same month a year earlier, unemployment increased by 1,085 persons (+0.0 percent). 

The number of jobseekers reached 215,215, an increase of 7,703 persons compared with October while it increased by 4,329 compared with the same period last year.

Youth unemployment (15 to 24 year old) decreased by 174 persons to 18,921. Compared with November 2015, this represents a decrease of 1,133 people (-0.2 percent).

Adjusted for seasonal factors, the unemployment rate also stood at 3.3 percent, unchanged from the prior two months.




Tuesday December 06 2016
Swiss Deflation Deepens in November
Swiss Federal Statistical Office | Joana Ferreira | joana.ferreira@tradingeconomics.com

Swiss consumer prices declined by 0.3 percent in the year to November 2016, following a 0.2 percent fall in October and worse than market expectations of a 0.2 percent drop. It was the 25th straight month of deflation and the biggest decline in consumer prices since June this year, mainly due to a fall in prices of leisure activities and accommodation.

Compared with November 2015, cost of recreation and culture dropped 0.4 percent, following a 1.2 percent increase in October; and prices of restaurants and hotels dropped 0.1 percent, after showing no growth the previous month. Additional downward pressure came from: Health (-0.6 percent, the same as in October); transport (-1.7 percent from -2.4 percent); miscellaneous goods and services (-1.8 percent, the same as in October); and furnishings and household equipment (-2.7 percent from -1 percent). By contrast, prices of housing and utilities advanced 0.6 percent, following a 0.3 percent gain in the previous month; and cost of food and non-alcoholic beverages went up 0.8 percent, the same as in October.

On a monthly basis, consumer prices fell 0.2 percent, after rising 0.1 percent in October, mainly due to lower prices of recreation and culture (-1.5 percent) while cost rose for housing and utilities (+0.3 percent).




Friday December 02 2016
Switzerland GDP Stalls in Q3
Seco l Rida Husna | rida@tradingeconomics.com

Switzerland's economy showed no growth on the quarter from July to September, following a 0.6 percent expansion in the previous three months and missing market consensus of a 0.3 percent growth. While domestic demand and investment grew, government expenditure shrank and the net trade balance contributed negatively as imports rose and exports declined.

In the third quarter, household consumption rose 0.1 percent, after remaining unchanged in the previous quarter. In contrast, government expenditure shrank 0.1 percent, swinging from a 1.7 percent expansion in the preceding three months.

Investment in equipment increased by  0.5 percent, compared to a 0.9 percent decline in the June quarter, driven primarily by research and development as well as machinery. Investment in construction also expanded 0.5 percent, after falling 0.2 percent previously.

Exports of goods (excluding non-monetary gold and valuables) decreased by 0.2 percent, the same pace as in the preceding quarter. Sales fell for precision instrumens, watches and jewellery. In contrast, positive contributions came from chemicals and pharmaceuticals. Imports of goods (excluding non-monetary gold and valuables) rose 0.2 percent, slowing from a 0.5 percent increase in the June quarter.

Year-on-year, the economy expanded 1.3 percent, slowing from a 2.0 percent growth in the June quarter and below consensus of a 1.8 percent growth. 




Tuesday November 22 2016
Switzerland Trade Surplus Narrows to 6-Month Low
Swiss Customs Administration l Rida Husna | rida@tradingeconomics.com

Switzerland trade surplus fell to CHF 2.67 billion in October of 2016 from CHF 4.01 billion a year earlier and missing market expectations of a surplus CHF 3.89 billion. It was the smallest surplus since April, as exports fell while imports rose.

Year-on-year, sales declined by 5.6 percent to CHF 17.8 billion, mainly due to machinery and electronics (-9.9 percent), watches (-16.4 percent), precision instruments (-4.6 percent), metals (-3.2 percent), jewelry and bijouterie (-29.2 percent); food, beverages and tobacco (-6.1 percent), vehicles (-26.6 percent), plastic products (-9.3 percent) and paper and graphic products (-5.5 percent). In contrast, outbound shipments went up for: chemicals and pharmaceuticals (+2.0 percent) and textiles, clothing and footwear (+13.8 percent). Among major trade partners, sales werlower to Euro zone (-3.8 percent), the EU countries (-2.7 percent) and Africa (-10.0 percent). In contreast, sales rose to the US (+1.1 percent), China (+18.5 percent), Japan (+5.1 percent) and Australia (+0.7 percent).

Purchases increased by 1.8 percent to CHF 15.10 billion, driven by chemicals and pharmaceuticals (+13.1 percent); textiles, clothing and footwear (+11.2 percent) and jewelry and bijouterie (+2.8 percent). In contrast, imports fell for: machinery and electronics (-1.5 percent), vehicles (-0.4 percent), metals (-2.2 percent); food, beverages and tobacco (-1.4 percent), energy products (-16.7 percent), plastic products (-1.8 percent), watches (-0.9 percent) and paper and graphic products (-5.6 percent).

In September 2016, trade surplus was marginally  revised to CHF 4.33 billion.




Tuesday November 08 2016
Swiss Jobless Rate Steady for 3rd Month at 3.2%
Seco l Rida Husna | rida@tradingeconomics.com

Swiss unadjusted unemployment rate stood at 3.2 percent in October of 2016, the same as in the previous two months and in line with market estimates. The number of unemployed was virtually stable while that of jobseekers rose slightly.

In October, there were 144,531 unemployed persons enrolled at the regional employment centers, about 1,856 more persons than in the previous month. Compared to the same month a year earlier, unemployment increased by3,262 persons (+0.1 percent). 

The number of jobseekers reached 207,512, an increase of 3,944 persons compared with September while it increased by 6,592 compared with the same period last year.

Youth unemployment (15 to 24 year old) decreased by 932 persons to 19,095. Compared with October 2015, this represents a decrease of 715 people (-0.1 percent).

Adjusted for seasonal factors, the unemployment rate stood at 3.3 percent, unchanged from the prior month.


Monday November 07 2016
Swiss Consumer Prices Drop for 24th Straight Month
Swiss Federal Statistical Office | Joana Ferreira | joana.ferreira@tradingeconomics.com

Swiss consumer prices declined by 0.2 percent in the year to October 2016, the same as in September and worse than market expectations of no change. It was the 24th straight month of deflation, as prices of health and transportation fell further while cost of housing and food rose at a faster pace.

Compared with October 2015, cost of health dropped 0.6 percent, following a 0.5 percent decrease in September, and transport prices dropped 2.4 percent, after declining by 1.9 percent the previous month. Additional downward pressure came from: Miscellaneous goods and services (-1.8 percent); and furnishings and household equipment (-1 percent). By contrast, prices of housing and utilities advanced 0.3 percent, following a 0.1 percent gain in September; and cost of food and non-alcoholic beverages went up 0.8 percent, after rising by 0.6 percent the precedent month.

On a monthly basis, consumer prices edged up 0.1 percent, the same pace as in the previous month, mainly due to higher prices of clothing and footwear (+3.3 percent) and housing and utilities (+0.2 percent); while cost fell for transport (-0.4 percent) and food (-0.3 percent).


Thursday October 20 2016
Switzerland Trade Surplus Hits Record High in September
Swiss Customs Administration l Chusnul Ch Manan | chusnul@tradingeconomics.com

Switzerland trade surplus increased to CHF 4.37 billion in September of 2016 from CHF 3.13 billion a year earlier and beating market expectations of a surplus CHF 3.27 billion. It was the largest surplus on record, as exports rose much more than imports.

Year-on-year, sales grew by 10.3 percent to CHF 18.8 billion, driven by chemicals and pharmaceuticals (+18.3 percent), precision instruments (+14.5 percent), metals (+6.3 percent), jewelry and bijouterie (+18.9 percent), machinery and electronics (+6.3 percent) and textiles, clothing and footwear (+9.1 percent). In contrast, outbond shipments dropped for: watches (-5.7 percent) and food & beverages (-1.7 percent). Among major trade partners, sales were higher to the US (+36.7 percent), Africa (+20 percent), Japan (+57.8 percent), China (+31.4 percent) and the EU countries (+3.5 percent).  In contrast, sales declined to America Latin (-6.6 percent) and Euro Zone (-7.2 percent). 

Imports increased by 3.7  percent to CHF 14.4 billion. Purchases went up for: chemicals and pharmaceuticals (+17.1 percent),  textiles, clothing and footwear (+6.5 percent), precision instruments (+6.3 percent) and watches (+13.9 percent). In contrast, inbound shipments fell for machinery and electronics (-0.5 percent), energy products (-13.1 percent), plastics (-1.9 percent) and paper (-4.0 percent).

In August 2016, trade surplus was marginally  revised to CHF 3.01 billion.

Considering January to September 2016, sales rose 6.4 percent to CHF 52.55 billion while imports increased by 6.2 percent to CHF 42.37 billion. That brought a trade surplus of CHF 10.20 billion during the period, compared to a CHF 9.5 billion surplus in the same period a year earlier.


Monday October 10 2016
Swiss Jobless Rate Steady at 3.2% in September
Seco l Rida Husna | rida@tradingeconomics.com

Swiss unadjusted unemployment rate stood at 3.2 percent in September of 2016, unchanged from the previous month and in line with market estimates. The number of unemployed rose slightly while that of jobseekers were down.

In September, there were 142,675 unemployed persons enrolled at the regional employment centers, about 183 less persons than in the previous month. Compared to the same month a year earlier, unemployment increased by 4,449 persons (+0.1 percent). 

The number of jobseekers reached 203,568, an increase of 1,579 persons compared with August while it increased by 7,526 compared with the same period last year.

Youth unemployment (15 to 24 year old) decreased by 613 persons to 20,027. Compared with September 2015, this represents a decrease of 591 people (-0.1 percent).

Adjusted for seasonal factors, the unemployment rate stood at 3.4 percent, up from 3.3 percent in the preceding two months.


Thursday October 06 2016
Swiss Deflation Deepens to 0.2% in September
Swiss Federal Statistical Office | Yekaterina Guchshina | yekaterina@tradingeconomics.com

Consumer prices in Switzerland went down 0.2 percent year-on-year in September of 2016, following a 0.1 percent drop in the previous month and worse than market expectations of 0.1 percent decline. It is the 25th straight month of deflation. Cost fell more for furnishings, communication and miscellaneous goods and services and rose at a slower pace for food and clothing and footwear. On a monthly basis, prices edged up 0.1 percent.

Year-on-year, prices fell at a faster pace for furnishings (-2 percent from -1.4 percent in August); communication (-1.6 percent from -1.5 percent); and miscellaneous goods and services (-1.7 percent compared to -1.6 percent); alcoholic beverages and tobacco (-0.9 percent) and rose slower for food and non-alcoholic beverages (+0.6 percent compared to +1.3 percent); clothing and footwear (+2.2 percent compared to +3.3 percent) and education (+0.5 percent from +1.4 percent). 

In contrast, housing and energy cost went up 0.1 percent(-0.1 percent in August) and dropped slower for transport (-1.9 percent compared to -2.9 percent).

On a monthly basis, consumer prices also edged up 0.1 percent, following a 0.1 percent decline in August. The increase was mainly due to the end of the sales of summer clothing and higher prices for petroleum products. In contrast, food prices, package tours, hotel nights and plane tickets went down.


Tuesday September 20 2016
Switzerland Trade Surplus Widens in August
Swiss Customs Administrations l Rida Husna | rida@tradingeconomics.com

Switzerland trade surplus increased to CHF 3.02 billion in August of 2016 from CHF 2.86 billion a year earlier but below market expectations of a surplus CHF 3.27 billion. Exports grew by 12.0 percent to CHF 16.05 billion while imports went up 13.5 percent to CHF 13.03 billion.

In August, sales rose for: chemicals and pharmaceuticals (+31.0  percent),  precision instruments (+8.2 percent),  metals (+5.8 percent), jewelry and bijouterie (+6.9 percent), food & beverages (+1.1 percent), textiles, clothing and footwear (+11.3  percent), and  plastics (+4.0 percent). In contrast, outbond shipments dropped for machinery and electronics (-1.5 percent), watches (-8.8 percent),  vehicles (-31.2 percent) and paper and graphic products (-3.0 percent). Among major trade partners, sales were higher to the EU countries (+18.2 percent), followed by the US (+31.0 percent), Japan (24.7 percent), and China (+9.1 percent). In contrast, sales declined to South Africa (-17.1 percent) and Australia (-3.0 percent).  

Imports increased by 13.5  percent year-on-year to CHF 13.03 billion, mainly driven by chemicals and pharmaceuticals (+43.8 percent),  machinery and electronics (+6.4 percent),  vehicles (+15.9 percent), metals (+8.5 percent), textiles, clothing and footwear (+12.7 percent), food and beverages (+2.4 percent),  precision instruments (+6.8 percent), watches (+4.9 percent), plastics (+8.8 percent)  and paper and graphic products (+5.1 percent). Among trading partners, imports were higher from the EU countries (+16.1 percent), the USA (+33.5 percent), South Africa (+50.3 percent) and Australia (+9.8 percent). 

In July 2016, trade surplus was downwardly revised to CHF 2.81 billion.