新加坡元/瑞郎 (SGDCHF) 加自选

2024年11月，新加坡非石油国内出口（NODX）意外同比增长3.4%，从10月份向上修正的4.7%的下降中恢复过来，超过了1.7%的下降预期。这标志着NODX自8月以来的最快速度，主要是由于电子产品销售的激增。受集成电路（28.9%）、磁盘介质产品（114.7%）和其他计算机外围设备（75.3%）的推动，电子产品出货量激增23.2%，较10月份的2.6%大幅增长。非电子产品出货量下降1.6%，较10月份的6.8%有所放缓，主要受纸张和纸板（-89.9%）、药品（-63.8%）和石化产品（-5.3%）的拖累。出口主要增长到台湾（42.7%）、香港（35.3%）和韩国（32.6%），而下降到美国（-19.1%）、日本（-12.1%）和中国（-11.6%）。按月计算，NODX上涨14.7%，这是四个月来的首次上涨，从10月份向上修正的7.5%暴跌的七个月来最大跌幅大幅反弹。

Singapore’s non-oil domestic exports (NODX) unexpectedly grew 3.4% yoy in November 2024, recovering from an upwardly revised 4.7% drop in October and beating estimates of a 1.7% fall. It marked the fastest pace in NODX since August, mainly due to a jump in electronic product sales. Electronic product shipments surged by 23.2%, accelerating sharply from a 2.6% gain in October, boosted by integrated circuits (28.9%), disk media products (114.7%), and other computer peripherals (75.3%). Non-electronic shipments fell 1.6%, moderating from a 6.8% gain in October, weighed by paper & paperboard (-89.9%), pharmaceuticals (-63.8%), and petrochemicals (-5.3%). Exports rose mainly to Taiwan (42.7%), Hong Kong (35.3%), and South Korea (32.6%) while declining to the US (-19.1%), Japan (-12.1%), and China (-11.6%). On a monthly basis, NODX jumped 14.7%, the first increase in four months, rebounding sharply from the steepest decline in seven months of an upwardly revised 7.5% plunge in October.

2024年11月，瑞士的生产者价格和进口价格同比下降1.5%，较上月1.8%的跌幅有所缓解。这标志着连续第19个下降期，生产者价格（-0.4%对10月的-0.5%）和进口成本（-3.8%对-4.4%）继续下降。按月计算，生产者价格和进口价格下降了0.6%，这是继9月份下降0.3%和预期上涨0.2%之后的第三次连续下降。减少的原因是药品、石油、天然气和化学产品的成本降低。

Switzerland’s producer and import prices decreased by 1.5% year-on-year in November 2024, easing from a 1.8% drop in the previous month. This marked the nineteenth consecutive period of decline, with both producer prices (-0.4% vs. -0.5% in October) and import costs (-3.8% vs. -4.4%) continuing to fall. On a monthly basis, producer and import prices dropped by 0.6%, marking the third straight decline, following a 0.3% drop in September and against forecasts of a 0.2% rise. The decrease was driven by lower costs for pharmaceutical products, petroleum, natural gas, and chemical products.

2024年第三季度，新加坡经季节性调整的失业率为1.9%，而第二季度的临时数据为1.8%和2.0%。这是自2023年第二季度以来的最低失业率，原因是外部需求前景改善后裁员人数下降（第二季度为3050人对3270人）。裁员主要集中在制造业和金融服务业。与此同时，总就业人数增长了22300人，几乎是第二季度11300人的两倍，居民和非居民就业人数都有所增加。外向型行业的居民就业增长，而建筑和制造业雇佣工作许可证持有人促进了非居民就业。与此同时，职位空缺从之前的81200个降至63400个。政府预计，由于就业率进一步上升和工资上涨，2024年的劳动力市场将跑赢2023年。它还预计将填补更多的职位空缺。随着时间的推移，职位空缺的数量和职位空缺与失业人员的比例预计将恢复到疫情前的水平。

Singapore’s seasonally adjusted unemployment rate was at 1.9% in Q3 2024, compared with flash data of 1.8% and 2.0% in Q2. It was the lowest jobless rate since Q2 2023, driven by a fall in retrenchment (3,050 vs 3,270 in Q2) following an improved outlook on external demand. Lay-offs mainly fell in manufacturing and financial services. Meanwhile, total employment grew by 22,300, near double the 11,300 gain in Q2, with rises in resident and non-resident employment. Resident employment grew in outward-oriented sectors while the hiring of Work Permit holders in construction and manufacturing boosted non-resident employment. Meantime, job vacancies fell to 63,400 from the prior 81,200. The government expects the labor market in 2024 to outperform 2023, due to a further rise in employment and rising wages. It also anticipates more job vacancies to be filled. Over time, the number of job vacancies and the job vacancies-to-unemployed-persons ratio are expected to return to pre-pandemic levels.

瑞士央行意外降息0.50%，通胀预测下调。瑞士国家银行（SNB）在12月的政策会议上公布了比预期更大的降息幅度，将政策利率下调50个基点至0.50%。

SNB Surprised with Larger 0.50% Rate Cut, Inflation Forecasts Downgraded.The Swiss National Bank (SNB) delivered a larger-than-expected interest rate cut at its December policy meeting, lowering its policy rate by 50 basis points to 0.50%.