Switzerland: Leading economic indicator improves in May
May 29, 2015
Switzerland’s KOF economic barometer—a composite leading indicator for the Swiss economy in the next six months—increased from the revised 89.8 points (previously reported: 89.5 points) in April to 93.1 points in May, thus hitting a four-month high. The result was up from the 90.0 points the markets had expected.
The KOF Swiss Economic Institute commented that the increase in the economic barometer in May is mainly driven by an improvement in the manufacturing activity, in particular in the metal and machine building industry. The institute added that, “positive but considerably lower contributions stem from the indicators related to domestic consumption and construction. No significant signals come from the financial and hospitality sector.”
Author: Dirina Mançellari, Senior Economist