Switzerland: Economic sentiment partially recovers in September
September 29, 2017
The KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—rose to 105.8 in September, climbing from a revised 104.2 (previously reported: 104.1 points) a month earlier and partially reversing August’s losses. September’s result undershot market analysts’ expectations of a more moderate increase and, landing above the 100-point threshold, signaled continued economic expansion above the series’ long-run average.
September’s result, according to the KOF Swiss Economic Institute, was primarily due to a strong contribution from the manufacturing sector while the remaining industrial branches were largely unchanged in the month. Manufacturers assessed incoming orders more favorably in September, and were slightly more bullish on firm competitiveness and the weaker franc. That said, the outlook for domestic consumption worsened in September, as did prospects for the export industry and the financial and construction sectors.
Author: Christopher Thomas, Economist