Switzerland: Swiss leading economic indicator drops in May
May 30, 2017
Switzerland’s KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—decreased from 106.3 points in April to 101.6 points in May. The index is now only marginally above the 100-point threshold which indicates the series’ long-run average.
According to the KOF Swiss Economic Institute, businesses’ assessment of the economy deteriorated in May, mainly in the manufacturing sector, where new orders and competitiveness weakened. Moreover, both external and domestic demand eased and dragged on the overall result.