Switzerland: Leading economic indicator is virtually unchanged in April
April 29, 2016
Switzerland’s KOF economic barometer—a composite leading indicator for the Swiss economy in the next six months—inched down from a revised 102.8 points in March (previously reported: 102.5 points) to 102.7 points in April. The indicator continued to hover above its long-term average, where it has stayed in last three months.
The KOF Swiss Economic Institute commented that the relatively positive result in the economic barometer in April was mainly attributed to positive signals from the manufacturing and hospitality sectors. Conversely, negative developments were seen in the financial sector, construction and export-related industries. The optimistic sentiment in manufacturing is mainly driven by an improvement in the outlook for the textile industry as well as for the food and chemical industries. Overall, the Swiss economy is expected to maintain a favorable growth trajectory.