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- KOF leading indicator for Switzerland declines to 99.8 in October
KOF leading indicator for Switzerland declines to 99.8 in October
The Swiss Economic Institute KOF released its leading indicator for Switzerland on Friday. The KOF leading indicator declined to 99.8 in October from 100.3 in September, missing expectations for a fall to 100.0. August's figure was revised down from 100.4.
According to the institute, the outlook for the Swiss economy continued "digesting the exchange rate shock".
"A slight downward pressure on the KOF Economic Barometer results from indicators in the sectors banking, construction and hotels and catering. The downward pressure is cushioned by improved prospects for consumption and a stable development of the manufacturing sector and of the export opportunities. However, the changes in all these indicators bundles in October are very small," the KOF said.
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