Switzerland: KOF Economic Barometer eases in August
The KOF Economic Barometer came in at 91.1 in August, down from July’s 92.1. Consequently, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the Swiss economy.
The result was due to a broad-based downturn across subsectors, except those relating to construction and domestic consumption. Indicators related to services, export oriented businesses and the hospitality industry worsened particularly sharply.