Switzerland: KOF Economic Barometer picks up in January
The KOF Economic Barometer came in at 107.8 in January, up from December’s 107.2. Consequently, the index remained above the long-term average of 100, pointing to a positive near-term outlook for the Swiss economy. That said, the Barometer is still markedly below the levels observed in the middle of last year.
January’s stronger reading was driven by stronger signs regarding consumer spending, financial services and accommodation and food services. However, signs regarding manufacturing and foreign demand grew less positive.