Tag Archives: 2) Swiss and European Macro

21.02.2023 – The number of workers holding a cross-border commuter permit (G permit) increased by 6.1% between the 4th quarters of 2021 and 2022 with 380 000 persons. Their share in the employed population was 7.3% (+0.4 percentage points). These are the findings of the Cross-border Commuter Statistics, conducted by the Federal Statistical Office (FSO). . Download press release: The number of cross-border commuters rose by 6.1% in 4th quarter 2022 over a one-year...

14.02.2023 – The Producer and Import Price Index rose in January 2023 by 0.7% compared with the previous month, reaching 109.2 points (December 2020 = 100). In particular, petroleum and natural gas as well as electricity saw higher prices. Petroleum products, in contrast, became cheaper. Compared with January 2022, the price level of the whole range of domestic and imported products rose by 3.3%. These are the results from the Federal Statistical Office (FSO). In...

The consumer price index (CPI) increased by 0.6% in January 2023 compared with the previous month, reaching 105.0 points (December 2020 = 100). Inflation was +3.3% compared with the same month of the previous year. These are the results of the Federal Statistical Office (FSO).The 0.6% increase compared with the previous month is due to several factors including rising prices for electricity and gas. Hotel accommodation also recorded a price increase, as did bread and...

Driven by rising prices, Swiss foreign trade increased significantly in nominal terms in 2022. Although exports rose by 7.2%, they stagnated in price-adjusted terms. Meanwhile, imports grew by 16.8% in nominal terms and edged up slightly in real terms. Trade declined in both directions in the fourth quarter. The year ended with a trade surplus of CHF 43.5 billion. In brief: ⇑ Exports: watches and jewellery set new records ⇑ Exports to Slovenia and Italy soared...

The Producer and Import Price Index fell in December 2022 by 0.7% compared with the previous month, reaching 108.5 points (December 2020 = 100). Compared with December 2021, the price level of the whole range of domestic and imported products rose by 3.2%. Average annual inflation in 2022 reached +5.6%. These are the results from the Federal Statistical Office (FSO). Average annual inflation for 2022 corresponds to the rate of change between the annual average for...

We do not like Purchasing Power or Real Effective Exchange Rate (REER) as measurement for currencies. For us, the trade balance decides if a currency is overvalued. Only the trade balance can express productivity gains, while the REER assumes constant productivity in comparison to trade partners. Who has read Michael Pettis, knows that a rising trade surplus may also be caused by a higher savings rate while the trade partners decided to spend more. This is partially...

14.12.2022 – The Producer and Import Price Index fell in November 2022 by 0.5% compared with the previous month, reaching 109.2 points (December 2020 = 100). Lower prices were seen in particular for pharmaceutical and chemical products as well as for petroleum and natural gas. In contrast, petroleum products became more expensive. Compared with November 2021, the price level of the whole range of domestic and imported products rose by 3.8%. These are the results...

The share of the permanent resident population aged 15 or more with a migration background increased from 35% to 39% between 2012 and 2021, according to data from the Swiss Labour Force Survey (SLFS). With a few exceptions, the population with a migration background fares less well in many areas of life than the population without a migration background. Regardless of nationality, the number of immigrants and emigrants rose in 2021. These are some of the findings of...

01.12.2022 – The consumer price index (CPI) remained stable in November 2022 compared with the previous month, remaining at 104.6 points (December 2020 = 100). Inflation was +3.0% compared with the same month of the previous year. These are the results of the Federal Statistical Office (FSO). The stability of the index compared with the previous month is the result of opposing trends that offset each other overall. Prices for housing rentals, gas and fuels increased,...

In the 3rd quarter of 2022, the number of employed persons in Switzerland increased by 0.8% compared with the same quarter of 2021 and the number of actual hours worked per week, per employed person, increased by 2.0%. During the same period, the unemployment rate as defined by the International Labour Organization (ILO) fell from 5.1% to 4.3% in Switzerland and from 6.7% to 6.0% in the EU. These are some of the results of the Swiss Labour Force Survey (SLFS)...