Switzerland: Economic sentiment improves in July, remains pessimistic
The KOF economic barometer—a leading composite indicator for the Swiss economy—rose to 85.7 in July from June’s 60.6, the strongest monthly increase in the indicator’s history. However, the index remained below the 100-point threshold, indicating that the outlook for the Swiss economy remains subdued.
July’s positive move was driven by improved readings for manufacturing, services, consumption and construction activities. Less positively, the prospects for the accommodation and food service industries remained bleak, amid the prolonged effects of the coronavirus pandemic.