Switzerland: KOF Economic Barometer falls in October
The KOF Economic Barometer fell to 95.8 in October from September’s 95.9. As a result, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the Swiss economy—in line with our panelists’ forecasts.
The downtick was due to a weakening in indicators from the manufacturing sector and those concerning foreign demand. In contrast, indicators from the finance and insurance sector and the hospitality sector sent positive signals.