Swiss SMI forecast increased 32 points or 0.35% to 9297 on Thursday, October 12 from 9265 in the previous trading session. Historically, the Switzerland Stock Market (SMI) reached an all-time high of 9531.50 in June of 2007 and a record low of 1287.60 in January of 1991.
The Swiss economy advanced 0.3 percent on quarter in the June quarter of 2017, following a downwardly revised 0.1 percent expansion in the previous period and missing market expectations of a 0.5 percent growth. The expansion was mainly supported by domestic demand while investment growth slowed and net trade contributed negatively to the GDP. Year-on-year, the economy also grew by 0.3 percent, slowing from a 0.6 percent expansion in the prior quarter and missing estimates of 1.1 percent. It was the weakest yearly figure since the December quarter 2009. GDP Growth Rate in Switzerland averaged 0.42 percent from 1980 until 2017, reaching an all-time high of 2.30 percent in the fourth quarter of 1999 and a record low of -1.60 percent in the fourth quarter of 2008.
The Swiss Manufacturing PMI increased to 61.7 in September 2017 from 61.2 in the previous month, beating market expectations of 60.6. The reading pointed to the fastest pace of expansion in factory activity since February 2011, as six activity sub-indexes rose: New orders (up 4.1 points to 66); employment (up 2.4 points to 55.3); stocks purchased (up 5 points to 55.3); purchasing volume (up 0.4 points to 61.9); purchasing prices (up 3.7 points to 65); and delivery times (up 1.1 points to 71.2). Meanwhile, the production sub-index dropped 7.7 points to 58.4, and the sales stocks sub-index fell 2.7 points to 45.5. Manufacturing PMI in Switzerland averaged 53.64 from 1995 until 2017, reaching an all time high of 67.30 in December of 2006 and a record low of 32.90 in March of 2009