Swiss ZEW economic expectations fall to 6-month low in March
Investing.com - Economic sentiment in Switzerland deteriorated to a six-month low in March, industry data showed on Wednesday.
In a report, the Centre for European Economic Research (ZEW) said its indicator of economic sentiment declined by 9.7 points to a reading of 19.0 this month from a reading of 28.7 in February.
Analysts had expected the index to decline to 25.0 in March.
The indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six-month time horizon.
A reading above 0.0 on the indicator indicates optimism, while a score below 0.0 indicates pessimism.
Following the release of the data, the Swiss franc was lower against the U.S. dollar, with USD/CHF adding 0.27% to trade at 0.8755.
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