Latest data released by the Federal Statistics Office - 28 May 2019
- Prior CHF 3.18 billion; revised to CHF 3.25 billion
- Exports -0.6% m/m
- Prior +0.1%; revised to -0.5%
- Imports +1.5% m/m
- Prior -3.2%; revised to -3.3%
The narrower trade surplus comes as a result of weaker exports and stronger imports on the month. The former is very much reflective of weaker export conditions in the euro area while the latter is a bright spot as there is some improvement in domestic demand following a heavy decline seen in the month of March.
Nonetheless, there's nothing much else to gather from the report here and it doesn't offer much of anything new to the SNB.
