Switzerland: Economic conditions improve markedly in August
The KOF economic barometer—a leading composite indicator for the Swiss economy—rose to 110.2 in August from 86.0 in July, marking the third consecutive monthly improvement. As a result, the index moved above the long-term average of 100, indicating a positive near-term outlook for the Swiss economy.
August’s figure was driven by improved readings regarding manufacturing, hospitality and foreign demand. In contrast, the construction sector worsened slightly.