Switzerland: Leading economic indicator drops to lowest level in nearly four years
June 30, 2015
Switzerland’s KOF economic barometer—a composite leading indicator for the Swiss economy in the next six months—decreased from the revised 92.7 points (previously reported: 93.1 points) in May to 89.7 points in June, thus hitting the lowest level since December 2011.
The KOF Swiss Economic Institute commented that the decrease in the economic barometer in June is mainly driven by a deterioration in the industrial sector, in particular the metal and wood sub-categories. In addition, the financial sector was a drag on sentiment in June. The institute added that, “the construction industry, however, seems to recover somewhat; in particular indicators related to the architectural business contribute positively to the overall indicator.”
Author: Dirina Mançellari, Senior Economist