Switzerland: KOF economic barometer signals more optimistic prospects for the Swiss economy
July 28, 2017
The KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—made further gains in July. The index rose up to 106.8 in July from a revised 105.8 in June (previously reported: +105.5), climbing further above the 100-point threshold, which indicates the series’ long-run average and signaling a more favorable outlook for the Swiss economy.
According to the KOF Swiss Economic Institute, the improvement was spurred by a more optimistic outlook for the tourism and export development sectors. Manufacturing businesses also held a more favorable assessment of their overall competitive position, with a brighter outlook for the textile sector and machine manufacturers. This offset the negative impacts emanating from deteriorating prospects for the metal, wood processing and food industries.