Switzerland: Economic sentiment picks up in June
The KOF economic barometer—a leading composite indicator for the Swiss economy—rose to 59.4 points in June from the record low of 46.6 recorded in May. However, the indicator remained well below its long-term average indicating that the outlook for the Swiss economy remains subdued.
The uptick in sentiment was broad based, with indicators for the manufacturing, services and construction sectors all improving in June. However, prospects for the hospitality industry and private consumption remain bleak due to the ongoing effects of the coronavirus pandemic.