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European Economic Data Preview: Switzerland Trade Balance
Thursday, 20 November 2008 03:12:29 GMT
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Switzerland’s Trade Balance is expected to show the surplus shrank to 1.28 billion francs in October from 1.44 billion in the previous month. Exports are likely to suffer deteriorating demand from the Euro Zone: countries in the currency bloc are the destination for 60% of all Swiss outbound shipments. The Euro Zone has been confirmed to be in it’s first-ever recession since the introduction of the single currency after the economy shrank for the second consecutive quarter in the three months through September. Imports may offer some room for an upside surprise: Retail Sales unexpectedly surged 6.4% in October, hinting at a possible uptick in inbound shipments.
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