Swiss investor sentiment improved to -11.1 in May 2026 from -30.3 in May 2025, according to the UBS & CFA Society Switzerland survey. The index rose by 19.2 points on the month, reflecting a less pessimistic outlook compared with previous readings, although it remains in negative territory. Around 75% of analysts now expect economic conditions in Switzerland to remain unchanged over the next six months. UBS noted that inflation expectations remain elevated, particularly outside Switzerland, despite the more stable domestic outlook. The current conditions gauge stood at +9.1 in May, while expectations were at -2.8.

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