By Neil MacLucas
ZURICH--Swiss economic expectations slipped for a fourth
straight month in April as financial analysts become more cautious
on signs that growth in the Alpine country's main export markets is
weakening.
A survey by the ZEW Institute and Credit Suisse Group published
Wednesday shows the headline index of investor and analyst
expectations dropped to 7.0 points in April, from 19.0 points in
March. A positive value indicates the number of participants who
expect the economic outlook to improve is higher than the number
who expect it to deteriorate.
This is broadly in line with the equivalent ZEW survey in
Germany--the biggest single market for Switzerland's exports--which
dropped for a fourth straight month in April, data showed on
Tuesday. German economic expectations remain elevated, but
investors are increasingly concerned about events in Ukraine and
the slowing Chinese economy.
"The experts surveyed expect to see a progressing recovery in
the euro zone, while the present state of the economy in the U.S.
is also being rated more positively," analysts at Credit Suisse
said.
The latest ZEW data is also reflected in the Swiss purchasing
managers' index, which slid to a nine-month low in March, and the
KOF leading indicator, which stagnated last month.
As far as the current state of the Swiss economy is concerned,
the survey showed the number of respondents who consider it to be
good rose to 59.1 points from 42.9 points a month ago.
Switzerland's economy is forecast to expand around 2% this year,
according to the Swiss central bank, whose minimum exchange rate
for the euro/franc imposed in September 2011 has helped stabilize
the country's exports.
Write to Neil MacLucas at neil.maclucas@wsj.com