Switzerland: Economic barometer records a small decrease in September
September 30, 2014
The KOF economic barometer—a leading indicator for future GDP growth—inched down from a revised 99.6 points in August (previously reported: 99.5 points) to 99.1 points in September. The reading slightly overshot the 99.0 points the markets had expected. As a result, the economic barometer sits for the third consecutive month below its long-term average of 100 points. Despite September’s drop, in its accompanying statement, the KOF Institute noted that “perspectives for the Swiss economy remain relatively stable.”
September’s result was driven by a drop in the indicators for the international environment as well as consumption-related indicators. In addition, the construction-related indicators performed slightly worse compared to the previous month. On the other hand, positive impulses came from manufacturing, especially from indicators related to intermediate products.
Author: Ricardo Aceves, Senior Economist