Switzerland: KOF Economic Barometer decreases in July
The KOF Economic Barometer fell to 90.1 in July from June’s 95.2. July’s result marked the worst performance since July 2020. As a result, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the Swiss economy.
July’s drop was driven by deteriorations in indicators for the manufacturing, accommodation and food service activities, other services, and financial and insurance services sectors.