Investor confidence in Switzerland deteriorated significantly in May, after improving in the previous month, data from a survey by Credit Suisse and the Center for European Economic Research (ZEW) showed Wednesday.
The headline index, which reflects expectations of the surveyed financial market experts regarding Switzerland's economic development in a six-month time horizon, fell to -4 in May from 2.1 in April. In March, the index showed a flat reading.
Meanwhile, the measure of respondents' assessment of the current economic situation improved significantly to 10 points in May from 2.2 point in April, hitting the the highest level since October 2011.
Data showed that the the number of respondents who expect inflation in Switzerland to rise within the next six months increased in May, while a majority still expects the inflation rate to remain stable within the next six months.
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