Investing.com - Economic sentiment in Switzerland increased more than expected in August, one month after hitting an 18-month low, industry data showed on Wednesday.
In a report, the Centre for European Economic Research (ZEW) said its indicator of economic sentiment rose by 2.4 points to a reading of 2.5 this month from a reading of 0.1 in July. Analysts had expected the index to fall to -1.0 in August.
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 lower against the U.S. dollar, with USD/CHF rising 0.2% to trade at 0.9094.
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