Switzerland: KOF Economic Barometer inches up in December
The KOF Economic Barometer—a leading composite indicator for the Swiss economy—rose from 103.7 in November to 104.3 in December, slightly above the long-term average of 100. Notwithstanding the slight uptick, according to the KOF Swiss Economic Institute “the prospects for the Swiss economy remain subdued at the beginning of the new year due to the ongoing pandemic.”
December’s reading was driven by more positive signs regarding manufacturing and private consumption. In contrast, indicators relating to foreign demand were more negative.