Switzerland: Leading economic indicator inches up in March
March 30, 2015
Switzerland’s KOF economic barometer—a composite leading indicator for the Swiss economy in the next six months—inched up from the revised 90.3 points (previously reported: 90.1 points) in February to 90.8 points in March. The result was slightly up from the 89.1 points the markets had expected.
The KOF Swiss Economic Institute commented that the effect of the change in monetary policy was manifested in February’s indicator. As a consequence, the result this month did not deteriorate any further compared to the previous month. The institute added that. ”the slight rise of the barometer is mainly driven from a recovery of the indicators related to domestic consumption, manufacturing and exports. […] On the other hand, the sentiment in construction and in the financial sector has further deteriorated.”
Author: Ricardo Aceves, Senior Economist