Swiss KOF Leading Indicator Rises To 98.5

(RTTNews) - A measure signaling future turning points in the Swiss economy improved slightly in May, but it still indicates that the outlook for the economy remains subdued, the results of a survey by the KOF Swiss Economic Institute showed Friday.

The economic barometer rose to 98.5 in May from 97.1 in the previous month.

Among components, the indicator bundle for manufacturing included in the Barometer showed particularly positive developments, while the demand-side indicator bundles for foreign demand and private consumption were under pressure, the KOF said.

Within the producing industry, the index for the general business situation showed particularly favorable developments in May, while that for purchases and inventories of intermediate goods indicated a weakened outlook.

Considering the manufacturing side alone, the indicators for the chemical and pharmaceutical industry, for the wood, glass, stone, and earth segment, for food and beverage producers, as well as for producers of paper and printing products, all exhibit positive developments.