The KOF economic barometer, which is a leading indicator for future GDP growth reached 1.67 points in October, virtually unchanged from the revised 1.68 points recorded in September (previously reported: 1.67 points). The reading exceeded market expectations, which had the indicator declining to 1.36 points. According to the Institute, the upward trend observed in recent months has run out of steam. Nonetheless, the Institute pointed out that the Swiss economy should remain in a positive trend in coming months. The subdued reading showed that the core GDP sub-indicator (which excludes the construction and banking sectors) remained unchanged compared to the previous month. The banking sub-gauge recorded an increase over the September survey, whereas the construction component showed a more negative dynamic.
Switzerland Economic Sentiment
Economic barometer remains broadly stable in October
October 26, 2012
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Switzerland Economic Sentiment Chart
Note: KOF Economic Barometer Indicator.
Source: KOF Swiss Economic Institute.
Switzerland Economic News
October 6, 2016
In September, consumer prices increased 0.1% from the previous month, just under market expectations of 0.2%, in a timid rebound from August’s 0.1% decrease.
October 3, 2016
In August, retail sales contracted a seasonally- and working-day adjusted 3.0% over the same month last year.
October 3, 2016
In September, the manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch came in at 53.2 points, beating August’s 51.0 points.
September 30, 2016
Switzerland’s KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—edged up from 99.7 points in August to 101.3 points in September.
September 15, 2016
At its 15 September meeting, the Swiss National Bank (SNB) decided to maintain the target range for the three-month Libor at between minus 1.25% and minus 0.25%, which met market expectations.