By Dow Jones Business News, October 16, 2013, 05:14:00 AM EDT
By Neil MacLucas
ZURICH--Swiss economic expectations rose to the highest level in almost 3 1/2 years in October as hopes among
financial analysts and investors grow that the euro zone's likely emergence from its economic crisis will boost growth
in the Alpine country.
A survey by the ZEW Institute and Credit Suisse Group published Wednesday shows the headline index of investor and
analyst expectations surged to 24.9 points in October, the highest level since May 2010, from 16.3 points in September.
A positive value indicates the number of participants who expect the economic outlook to improve is higher than the
number who expect it to deteriorate.
This is in line with the equivalent October ZEW survey in Germany--Switzerland's biggest single export market--which
held at its highest level since April 2010, data showed Tuesday, amid signs that a euro-zone recovery is becoming more
"The indicator adds to the evidence that the outlook for the Swiss economy is improving, and most institutes--
including ourselves--forecast an acceleration of economic growth next year," said Credit Suisse.
The latest ZEW index follows the Swiss purchasing managers' index, which unexpectedly increased in September, and the
KOF leading indicator, which gained for a sixth straight month. The data suggest demand for Swiss goods is picking up,
which is likely to boost growth in the coming six months.
As far as the current state of the Swiss economy is concerned, the survey showed the number of respondents who
consider it to be improving rose to 43.7% from 37.2% a month ago.
Write to Neil MacLucas at email@example.com
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