Swiss ZEW economic expectations fall to 11-month low in June
Investing.com - Economic sentiment in Switzerland deteriorated to an 11-month low in June, industry data showed on Wednesday.
In a report, the Centre for European Economic Research (ZEW) said its indicator of economic sentiment declined by 2.6 points to a reading of 4.8 this month from a reading of 7.4 in May. Analysts had expected the index to increase to 10.0 in June.
A reading above 0.0 on the indicator indicates optimism, while a score below 0.0 indicates pessimism.
The indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six-month time horizon.
Following the release of the data, the Swiss franc was higher against the U.S. dollar, with USD/CHF shedding 0.04% to trade at 0.8990.
Investing.com offers an extensive set of professional tools for the financial markets.
Read more News on Investing.com and download the new Investing.com Stocks & Forex App for Android!