Switzerland: Economic sentiment ticks up in April on firmer output
In April, the KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—ticked up 0.2 points to 105.3 from a revised 105.1 in March (previously reported: 106.0). Roughly stable form a month earlier, April’s reading remained above the 100-point threshold, signaling continued economic expansion above the series’ long-run average and a favorable short-term outlook.
April’s stronger performance was due largely to gains in the manufacturing and construction sectors, which benefited from improved competitiveness and stronger earnings. Moreover, the banking sector recorded a slight upturn. Export prospects, on the other hand, deteriorated. According to survey data, employment gains also moderated in the month.