Tag Archives: Swiss Macro

06.10.2016 09:15  – FSO, Tourism (0353-1609-80) Statistics on tourist accommodation in August 2016 Overnight stays decline in August 2016 Neuchâtel, 06.10.2016 (FSO) – The Swiss hotel industry registered 4.1 million overnight stays in August 2016, which corresponds to a decrease of 1.0% (-43,000 overnight stays) compared with August 2015. Foreign visitors generated 2.4 million overnight stays, representing a...

03.10.2016 09:15  – FSO, Economic Surveys (0353-1609-20) The Used Goods Question Retail sales in several countries like Germany, Italy, Japan and Switzerland continue to fall. In the United States they have strongly risen recently. We should remind readers, that used goods sold via Ebay or similar, are not contained in this statistics. Still they create economic value for the purchases. By mentality, Swiss, Germans...

The Swiss consumption indicator by UBS shows improvements. The indicator is still distant from the highs in 2012. At the time stronger growth in Emerging Markets and the weaker franc helped the Swiss economy. The UBS Consumption Indicator rose to 1.53 points in August from 1.45. This development was fueled by resurging tourism and above-average car sales for the month. However, the situation on the labor market casts...

The Swiss consumption indicator by UBS shows improvements. The indicator is still distant from the highs in 2012. At the time stronger growth in Emerging Markets and the weaker franc helped the Swiss economy. The UBS Consumption Indicator rose to 1.53 points in August from 1.45. This development was fueled by resurging tourism and above-average car sales for the month. However, the situation on the labor market casts...

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 increases, while REER assumes constant productivity in comparison to trade partners. On the other side, a rising trade surplus may also be caused by a higher savings rate while the trade partners decided to...

13.09.2016 09:15  – FSO, Prices (0353-1608-90) The Producer Price Index (PPI) or officially named "Producer and Import Price Index" describes the changes in prices for producers and importers. For us it is interesting because it is used in the formula for the Real Effective Exchange Rate. When producers and importers profit on lower price changes when compared to other countries, then the Swiss Franc reduces...

12.09.2016 09:15  – FSO, Economic Surveys (0353-1608-80) The Swiss Real Estate Bubble and Rents The number of empty dwellings is an important indicator for the Swiss real estate bubble. Prices of Swiss real estate had risen by 5%-8% per year between 2009 and 2014, while rents for existing contracts are regulated and have not followed this path yet. Landlords can only introduce higher prices levels for new buildings...

[unable to retrieve full-text content]Each quarter, the SECO estimates the GDP and its components. The main purpose of these estimations is to provide data that allow for an assessment of the cyclical development of the main macroeconomic aggregats in a timely adequate and credible manner.

[unable to retrieve full-text content]We often look at parts of the CPI. For example food inflation is relevant in emerging markets or poorer people in developed nations. Food inflation in Switzerland has risen by 1.3% YoY compared to 0.2% in the U.S., and 1.4% in the eurozone and 1.1% in neighbour Germany. Rents are up +0.2% YoY. Existing Swiss rents are bound to interest rates; therefore they cannot follow the Swiss real estate boom yet.

[unable to retrieve full-text content]The Swiss hotel industry registered 4.1 million overnight stays in July 2016, which corresponds to a decrease of 0.4% (-18,000 overnight stays) compared with July 2015. Foreign visitors generated 2.3 million overnight stays, representing a decline of 2.0% (-46,000). Domestic visitors registered 1.8 million overnight stays, i.e. an increase of 1.6% (+29,000). These are provisional results from the Federal Statistical Office (FSO).