Switzerland: KOF Economic Barometer records worst reading since February in December, but remains fairly upbeat
The KOF Economic Barometer came in at 107.0 in December, down from November’s 107.5. December’s result marked the weakest reading since February. Consequently, the index remained above the long-term average of 100, pointing to a positive near-term outlook for the Swiss economy.
December’s weaker reading was driven by more negative signs regarding private consumption, amid the fresh wave of Covid-19 cases. The finance and insurance sector also contributed negatively. In contrast, indicators regarding foreign demand were more robust.