Switzerland Economic Sentiment February 2017


Switzerland: Swiss leading economic indicator jumps in February

February 28, 2017

Switzerland’s KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—rose steeply from 102.0 points in January (previously reported: 101.7) to 107.2 points in February. The index moved further above the 100-point threshold which indicates the series’ long-run average.

The KOF Swiss Economic Institute viewed the result as a sign that the Swiss economy will grow at an above-average rate in the near future. February’s improvement was driven by growth in manufacturing, primarily down to the paper, textile, electrical and machine-building industries, while the hospitality industry also improved to a lesser extent. The remaining industry branches recorded little change compared to January.

The State Secretariat for Economic Affairs (SECO) expects GDP to expand 1.8% in 2017 and 1.9% in 2018. FocusEconomics Consensus Forecast panelists expect GDP to expand 1.5% in 2017, which is unchanged from last month’s projection. For 2018, the panel expects economic growth to accelerate to 1.6%.

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