Switzerland: KOF Economic Barometer drops to over one-year low in June
The KOF Economic Barometer came in at 96.9 in June, down from May’s 97.7. June’s result marked the weakest reading since January 2021. Consequently, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the Swiss economy.
June’s softer reading was driven by weaker manufacturing and foreign demand indicators. In contrast, the financial and construction sectors appeared broadly stable.