The State Secretariat for Economic Affairs ( SECO ) Consumer Climate Index measures the level of consumer confidence in economic activity. On the index, a level above zero indicates optimism; below indicates pessimism. On 5 August this index is forecasted to drop from -6 to -8 or -10.
Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.
A higher than expected reading should be taken as positive/ for the CHF, while a lower than expected reading should be taken as negative/ for the CHF. The forecast is -0.6% to -0.5% from a previous -1.7%.
The Swiss economy is likely to slow in 2019, with gross domestic product growth expected to hit 1.1%, followed by a “moderate” recovery in 2020, the International Monetary Fund said on Monday, Apr 1, 2019.
Facts about Switzerland:
- Switzerland has the second highest gross domestic product (GDP) per capita in the world. At the end of 2015 Swiss GDP per capita stood at CHF 77,943 (approx. EUR 73,000 or USD 81,000).
About 74% of Swiss GDP is generated by the service sector and 25% by industry. The contribution from the agricultural sector is less than 1%.
The European Union (EU) is Switzerland's main trading partner. Around 78% of Swiss imports are from the EU, while 43% of Swiss exports are destined for EU countries.
Most Swiss firms (over 99%) are small- and medium-sized enterprises (SMEs). These are defined as companies with fewer than 250 employees.
The public debt-to-GDP ratio in Switzerland has fallen considerably in recent years, from 54.6% in 1998 to 34.7% in 2014.
Switzerland has the lowest rate of value-added tax in Europe. 8% is levied on most goods and services, 3.8% on accommodation services, and 2.5% on basic necessities and other everyday items.
Every year Switzerland spends close to 3% of its GDP, more than CHF 18.5 billion (around EUR 15 billion or USD 20.6 billion), on research and development . Over three-quarters of this funding comes from the private sector.
The currency of Switzerland is the Swiss franc . One Swiss franc is equal to 100 centimes. It is abbreviated to CHF, SFr . or Fr .
- Political, economic and social stability and consensus; role of direct democracy
Close relations with the EU
Limited sensitivity of exports to foreign exchange due to focus on high technology and quality
Public accounts in surplus and large external asset position
European crossroads with excellent communication network
- Small, open and landlocked economy
Overvalued Swiss franc used as a safe haven
Highly dependent on trading and financial services
Elevated house prices
Banks’ exposure to real estate (80% of loans), with two institutions accounting for half of domestic assets
Population ageing offset by immigration (foreign labour makes up 30% of the workforce)
Sweden is 53.3% cheaper than Switzerland IN TERMS OF COST OF LIVING.
Sweden has achieved an enviable standard of living with its combination of free-market capitalism and extensive welfare benefits. Sweden remains outside the euro zone largely out of concern that joining the European Economic and Monetary Union would diminish the country’s sovereignty over its welfare system. Timber, hydropower, and iron ore constitute the resource base of an economy heavily oriented toward foreign trade.