RTTNews - Switzerland's economic expectations diminished in July, results of the financial market test carried out by the Centre for European Economic Research or ZEW in cooperation with Credit Suisse revealed Thursday.
The economic sentiment indicator dropped to the neutral threshold of zero in July from 9.7 recorded in the previous month. The current economic indicator dropped 2.5 points to the minus 70.2 level.
Regarding short-term interest rates, 89.3% of the survey participants forecast rates holding steady on a six-month horizon. On the other hand, inflation expectations balance dropped 20.5 points to the 2.1 level.
Although 55.6% of the financial market experts continue to predict that the Swiss Market Index will gain terrain, the relevant indicator lost ground by 17 points in the July survey and now stands at the 37.8 mark, the ZEW said.
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