Financial News: Swiss KOF Leading Indicator Falls To 101.5

Swiss KOF Leading Indicator Falls To 101.5

03/28/2024 - 05:04:00 (RTTNews)

(RTTNews) - A measure signalling future turning points in the Swiss economy decreased in March, though reflecting positive prospects for the Swiss economy as the index is above its long-term average, the results of a survey by the KOF Swiss Economic Institute showed Thursday.

The economic barometer dropped to 101.5 in March from a upwardly revised 102.0 in February. Economists had forecast the index to remain stable at 102.0.

However, the index is now stabilizing above its long-term average, and the outlook for the Swiss economy therefore remains positive, the KOF said.

The decline in March was primarily due to indicator bundles of the construction sector and indicator bundles capturing private consumption. On the other hand, positive momentum was evident in the finance and insurance sectors.

In the goods producing sector, which includes manufacturing and construction, indicators for the assessment of employment prospects and for order backlogs declined in particular. Meanwhile, a strong positive signal seen in the situation for intermediate goods.

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