Switzerland: Economic sentiment falls close to its long-term average in August
In August, the KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—inched down from a revised 101.7 points in July (previously reported: 101.1 points) to 100.3 points. The index currently lies slightly above the series’ long-run average of 100 points, which indicates slightly better-than-average economic activity in coming months.
The deterioration observed in August resulted largely from a negative contribution from the manufacturing and export-oriented sectors, due to worsening production outlooks. Conversely, indicators related to private consumption shows some signs of improvement in the month.