Posts Tagged ‘carousel’

Switzerland: GDP growth was surprisingly resilient in 2012

We are raising our forecast for Swiss GDP growth modestly in 2013 from 1.5% to 1.7%. Consensus expectations are currently much lower at 1.1%. Our forecast for 2014 remains unchanged at 2.0% (consensus: 1.6%).

Euro area: Disappointing monetary news

Today’s picture tends to confirm that, except for Germany and a few close trading partners, the economic outlook continues to be gloomy in the euro area. The annual growth rate of the euro area M3 monetary aggregate was almost unchanged at 3.5% y-o-y in January from 3.4% in December 2012, but above consensus expectations (3.2% […]

Germany: Rosy outlook for 2013 confirmed

-0.6% q-o-q growth confirmed in Q4 The second release of Germany’s Q4 GDP confirmed the first estimate of -0.6% q-o-q growth (-2.3% q-o-q annualised and 0.4% y-o-y). The result for the entire year 2012 remained 0.7%. Contraction essentially due to falling exports The breakdown of Q4 German GDP showed that the final consumption expenditure of […]

Gold: reaching the summit?

After 10 years of beating the S&P 500 every single year with the exception of 2012, we believe that gold has reached a summit and we decided to reduce our gold exposure in our asset allocation.

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