Switzerland: Leading economic indicator inches up in June
June 30, 2016
Switzerland’s KOF economic barometer—a composite leading indicator for the Swiss economy in the next six months—inched up from a revised 101.8 points in May (previously reported: 102.9 points) to 102.4 points in June. The indicator has been above its long-term average of 100 points since the beginning of the year.
The KOF Swiss Economic Institute commented that the positive result in the economic barometer in June was mainly attributed to positive signals coming from the export sector and parts of the construction industry. Sentiment in manufacturing also brightened in June. This was mainly driven by an improvement in the outlook for mechanical engineering, whereas food manufacturers and chemical industries were slightly more pessimistic this month. Indicators related to private consumption and the banking industry, however, moderated in June.. Overall, the Swiss economy is expected to continue growing at a stable rate.