Swiss Exports Show More Signs of Recovery

Swiss exports rose on the month in November as foreign demand improved in most sectors, adding to signs that recovery of the Alpine economy is gaining traction., Reuters 12/22/2009 10:25:21 AM

Exports increased 1.6 percent in real terms compared to October when adjusted for seasonal swings, the Swiss Federal Customs Office said on Tuesday.

Real exports were still 6.6 percent lower than a year ago, but the decline slowed from an average of 15.2 percent for the first 11 months this year.

Nominal exports stood at 16.1 billion Swiss francs ($15.47 billion), taking the trade surplus to 2.1 billion francs.

The Swiss economy returned to growth in the summer, emerging from a year-long, deep recession and most economists expect the recovery to gather pace in the coming months as the global economy fuels exports and Swiss consumers keep spending.

The Swiss National Bank took a first step on the long route back to normalising monetary policy at its last quarterly assessment on Dec. 10, scaling back on unconventional easing as it held interest rates steady.

Swiss Exports Show More Signs of Recovery