Swiss KOF Economic Barometer rose from 98.0 to 101.5 in January, above expectation of 98.2. That was the third consecutive month of increase, and the first instance since March of the previous year that the barometer has exceeded its medium-term average. This development is being interpreted as “increasing signs that the Swiss economy will soon recover”.
The improvement is particularly noticeable in the accommodation industry and other service sectors. The combined indicators for manufacturing, construction, and foreign demand are also “develop slightly positive”. Consumer demand, however, is “virtually unchanged”. The only sector that appears to be facing challenges is the financial and insurance activities, where the outlook has deteriorated.
Full Swiss KOF release here.
