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- Switzerland: KOF Leading Indicator halts its drop
Switzerland: KOF Leading Indicator halts its drop
KOF Economic Research Agency said, in March 2019, the KOF Economic Barometer rose and has reached a reading of 97.4. Economists had expected increase to 93.9 from 92.4 in February. The recent downward tendency has at least for the time being ended. However, as the current barometer reading is still markedly below its average, in the coming months the Swiss economy can expect to experience rather weak growth rates.
By the end of March, the KOF Economic Barometer rose from 93.0 (revised from 92.4) by 4.4 points to 97.4. This is predominantly due to positive impulses from the manufacturing industry. The positive tendency within the manufacturing industry is mostly driven by the electrical industry, followed by the metal industry, mechanical engineering and the textile industry. In the goods producing sector (manufacturing and construction), the positive trend is above all attributable to the assessments of the intermediate products, order backlogs and the overall business situation. The assessment of production has also improved somewhat.
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