The Economic Sentiment Index, often referred to as the ZEW-CS Indicator for Switzerland, measures the level of optimism that financial experts have regarding the economic future of the country. It is based on a monthly survey of institutional investors and analysts who provide their outlook on the economy over a six-month horizon. A positive value indicates that the majority of experts are optimistic, while a negative value suggests a pessimistic outlook, serving as a key leading indicator for investment and growth.
The index is calculated as the difference between the percentage of positive and negative responses from surveyed financial experts. The survey covers expectations for the Swiss economy, inflation, interest rates, and stock market performance.
| Date | Actual | Forecast | Surprise |
|---|---|---|---|
| Sep 30, 2026 | — | -10.00 | — |
| Aug 26, 2026 | 12.10 | 8.00 | +4.10 |
| Jul 29, 2026 | 10.00 | -23.00 | +33.00 |
| Jun 24, 2026 | -25.00 | 1.50 | -26.50 |
| May 27, 2026 | -11.10 | -24.00 | +12.90 |
| Apr 29, 2026 | -30.30 | -40.00 | +9.70 |
| Mar 25, 2026 | -35.00 | 3.50 | -38.50 |
| Feb 25, 2026 | 9.80 | -1.00 | +10.80 |
| Jan 28, 2026 | -4.70 | 5.50 | -10.20 |
| Dec 23, 2025 | 6.20 | 10.00 | -3.80 |
| Nov 26, 2025 | 12.20 | -8.80 | +21.00 |
| Oct 29, 2025 | -7.70 | -38.00 | +30.30 |
| Sep 24, 2025 | -46.40 | -40.00 | -6.40 |
| Aug 27, 2025 | -53.80 | -1.00 | -52.80 |
| Jul 30, 2025 | 2.40 | -1.80 | +4.20 |
| Jun 25, 2025 | -2.10 | -17.00 | +14.90 |
| May 28, 2025 | -22.00 | -35.00 | +13.00 |
| Apr 30, 2025 | -51.60 | -10.90 | -40.70 |
| Mar 26, 2025 | -10.70 | 9.00 | -19.70 |
| Feb 26, 2025 | 3.40 | 18.20 | -14.80 |
| Jan 29, 2025 | 17.70 | -21.00 | +38.70 |
| Dec 23, 2024 | -20.00 | -10.00 | -10.00 |
| Nov 27, 2024 | -12.40 | -8.00 | -4.40 |
| Oct 30, 2024 | -7.70 | -5.00 | -2.70 |
| Sep 25, 2024 | -8.80 | 2.70 | -11.50 |
| Aug 28, 2024 | -3.40 | — | — |
| Jul 31, 2024 | 9.40 | 18.00 | -8.60 |
| Jun 26, 2024 | 17.50 | 20.00 | -2.50 |
| May 29, 2024 | 18.20 | 19.00 | -0.80 |
| Apr 24, 2024 | 17.60 | 9.90 | +7.70 |
| Mar 27, 2024 | 11.50 | -14.00 | +25.50 |
| Feb 28, 2024 | 10.20 | -17.00 | +27.20 |
| Jan 31, 2024 | -19.50 | -22.00 | +2.50 |
| Dec 27, 2023 | -23.70 | — | — |
| Nov 29, 2023 | -29.60 | -40.00 | +10.40 |
| Oct 25, 2023 | -37.80 | -24.00 | -13.80 |
| Sep 27, 2023 | -27.60 | — | — |
| Aug 30, 2023 | -38.60 | -31.30 | -7.30 |
| Jul 26, 2023 | -32.60 | -31.10 | -1.50 |
| Jun 28, 2023 | -30.80 | -32.30 | +1.50 |
| May 31, 2023 | -32.20 | — | — |
| Apr 26, 2023 | -33.30 | — | — |
| Mar 29, 2023 | -41.30 | — | — |
| Feb 22, 2023 | -12.30 | — | — |
| Jan 25, 2023 | -40.00 | — | — |
| Dec 28, 2022 | -42.80 | — | — |
| Nov 30, 2022 | -57.50 | — | — |
| Oct 26, 2022 | -53.10 | — | — |
| Sep 28, 2022 | -69.20 | — | — |
| Aug 31, 2022 | -56.30 | — | — |
| Jul 27, 2022 | -57.20 | — | — |
