The KOF economic barometer has continued its downward trend and fell in November to the lowest level since 2015. The leading indicator fell by 1.8 points to 93.0 points. The Barometer was still well below its long-term average value, the economic research Institute KOF at the ETH Zurich on Friday. The Outlook for the Swiss economy remained behavior.
The news Agency Reuters surveyed Economists had expected the leading indicator in the run-up to something higher, namely, in the range of 94.9 to 95,7 points. The previous month value was meanwhile revised upwards slightly ( 0.1 points).
For the decline are multiple Indicators to the same Parts responsible, wrote the KOF. However, negative signals from the hospitality and the banking and insurance sector stand out easily out. Also the demand from abroad, and other services declined. In Manufacturing, however, the indicators showed little change.
The KOF economic barometer is a leading indicator for the Swiss economy. It is a composite indicator, consisting of a variety of individual indicators. These are summarized on statistically determined Weights to form an overall indicator. (Dec/sda)
Created: 29.11.2019, 11:19 PM