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Switzerland's economic confidence improved for the second successive month in August, a monthly survey by the Centre for European Economic Research in cooperation with Credit Suisse showed Wednesday.
The ZEW-CS Indicator of economic expectations, which reflects expectations of surveyed financial market experts regarding economic development in Switzerland on a six-month time horizon, advanced to 7.2 points in August from 4.8 points in July.
The latest reading suggests that expectations for the economy might move over to a gentle upwards trend, after staying at near-stable levels for three consecutive months.
In August, a higher number of analysts said they expect economic conditions to remain stable in the next six months. Meanwhile, the share of pessimists remained unchanged.
The measure of experts' views of the current economic situation in Switzerland improved by 4.7 points to 30.9 points in August, hitting the highest level since August 2011.
At the same time, the indicator of economic expectations for the Eurozone increased by 9.8 points month-on-month in August to 41.4 points, reaching the highest level since February 2010.
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