Swiss trade data: something is moving

Switzerland's foreign trade surplus increased in May, as exports grew faster than imports, figures from the Federal Customs Administration showed Thursday.

The trade surplus climbed to CHF 3.4 billion in May from CHF 1.9 billion in April. In March, the surplus was EUR 3.0 billion.

In real terms, both exports and imports rose by a seasonally adjusted 2.9 percent and 2.0 percent, respectively in May from a month ago.

A report released by the Federation of Swiss Watch Industry showed that watch exports grew 9.0 percent year-over-year to CHF 1.7 billion in May. This was the second positive month after March.

The Swiss Franc could increase today because has received a helping hand from the Switzerland data. The Gov Board Member Maechler will speak in Zurich in the afternoon.