Swiss KOF Leading Indicator Signals Steady Outlook In November

(RTTNews) - A measure signaling future turning points in the Swiss economy strengthened further in November to the highest level in eight months, the results of a survey by the KOF Swiss Economic Institute showed Friday.

The economic barometer rose to 101.7 in November from 101.5 in October. Moreover, the indicator continues to remain above its medium-term average of 100, indicating a steady outlook for the Swiss economy.

In November, demand-side indicators particularly signaled positive developments. A favorable outlook is evident in both the indicator bundles for foreign demand and private consumption.

The indicator bundle for the producing industry, including manufacturing and construction, was under pressure in November, especially sub-indicators for employment prospects as well as for stockpiling of intermediate goods, which exhibit negative developments. Nonetheless, this was somewhat offset by a positive outlook for the sub-indicators for exports.