(RTTNews) - Switzerland's economic sentiment indicator for May declined sharply to 40.5 from 53.4 in April, a survey carried out monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse showed Thursday.
The indicator measuring the current economic situation dipped 8.5 points to the 4.8 level, but the reading remained positive for the second consecutive month.
Around 88.1% of survey participants predict that interest rate levels will hold steady, while 11.9% believe short-term rates to rise on a six-month horizon. Further, the survey found that the share of respondents who expect prices to decrease stood at 9.5%, up 5.1 percentage points.
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