Tag Archives: 2) Swiss and European Macro

25.08.2022 – In 2020, the Swiss economy had almost 617 000 businesses and just under 5.3 million jobs. After uninterrupted growth since the start of the statistical series in 2011, the number of businesses and jobs has declined for the first time. Compared with 2019, around 900 fewer units and 33 000 fewer workplaces were recorded, a decline of 0.1% and 0.6% respectively. Food and beverage service activities and the accommodation sector were particularly affected,...

15.08.2022 – The Producer and Import Price Index fell in July 2022 by 0.1% compared with the previous month, reaching 109.7 points (December 2020 = 100). Lower prices were seen in particular for basic metals and semi-finished metal products. Compared with July 2021, the price level of the whole range of domestic and imported products rose by 6.3%. These are the results from the Federal Statistical Office (FSO). In particular, higher prices for metal products,...

29.07.2022 – Turnover adjusted for sales days and holidays rose in the retail sector by 3.2% in nominal terms in June 2022 compared with the previous year. Seasonally adjusted, nominal turnover rose by 0.1% compared with the previous month. These are provisional findings from the Federal Statistical Office (FSO). Real turnover adjusted for sales days and holidays rose in the retail sector by 1.2% in June 2022 compared with the previous year. Real growth takes...

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...

17.07.2022 – Construction expenditure again remained stable in 2021 compared with the previous year. Investments in civil engineering rose by 1.0% and those in building construction fell by 0.4%. As a result, total investment in construction showed a decline of 0.1%. These are the provisional findings from the Construction Statistics from the Federal Statistical Office (FSO). Percentage change in construction expenditure by type of building and by type of work...

14.07.2022 – The Producer and Import Price Index rose in June 2022 by 0.3% compared with the previous month, reaching 109.8 points (December 2020 = 100). Petroleum products in particular were more expensive. Compared with June 2021, the price level of the whole range of domestic and imported products rose by 6.9%. These are the results from the Federal Statistical Office (FSO). In particular, higher prices for builders’ and interiors’ joinery as well as petroleum...

05.07.2022 – In 2021, for the second consecutive year, the activity of medical practices was affected by the COVID-19 pandemic. Despite an improved situation compared with 2020, two out of five medical practices experienced reduced activity and one in five had to resort to short-time work. Three out of five primary care practices participated in the vaccination campaign that began at the end of 2020. These are some of the results from the latest survey of structural...

04.07.2022 – Vehicle leases and arrears are the most common types of debt in Switzerland. In 2020, 15.5% of the population lived in a household with at least one vehicle lease and 14.9% in a household with at least one arrear in the past 12 months. 6.9% lived in a household with at least three different types of debt. These are some of the findings from the Survey on Income and Living Conditions (SILC) conducted by the Federal Statistical Office (FSO). The results...

04.07.2022 – The consumer price index (CPI) increased by 0.5% in June 2022 compared with the previous month, reaching 104.5 points (December 2020 = 100). Inflation was +3.4% compared with the same month of the previous year. These are the results of the Federal Statistical Office (FSO). The 0.5% increase compared with the previous month is due to several factors including rising prices for fuel. Heating oil also recorded a price increase, as did fruiting vegetables....

30.06.2022 – Nominal retail trade turnover adjusted for sales days and holidays remained stable in May 2022 compared with the same month of the previous year with a rate of change of 0.0%. Seasonally adjusted, nominal turnover rose by 1.6% compared with the previous month. These are provisional findings from the Federal Statistical Office (FSO). Real turnover adjusted for sales days and holidays fell in the retail sector by 1.6% in May 2022 compared with the...