Switzerland: Leading economic indicator rises in October
October 30, 2014
The KOF economic barometer—a leading indicator for future economic activity growth—inched up from a revised 99.3 points in September (previously reported: 99.1 points) to 99.8 in October. The reading overshot the 99.2 points the markets had expected. October’s result meant that the economic barometer is gradually approaching its long-term average of 100 points. In its accompanying statement, the KOF Institute recognized that, “with a reading close to the long-term average, the perspectives for the Swiss economy are friendly, but unexciting.”
The advance in October was the result of improvements in the financial sector, along with increases in indicators related to consumption and construction. Conversely, October’s survey showed negative developments in the manufacturing and hospitality sectors, as well as in indicators related to the international environment.
Author: Ricardo Aceves, Senior Economist