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Financial News: Swiss Economy Continues To Remain Weak: KOF

Swiss Economy Continues To Remain Weak: KOF

07/30/2019 - 04:06:00 (RTTNews)

(RTTNews) - Switzerland's economy continues to remain weak despite some improvement in the economic prospects, the KOF Swiss Economic Institute said on Tuesday.

The KOF Economic Barometer, a leading indicator for the trends in the alpine economy, sharply rose to 97.1 in July, which was much higher than the 93.7 score economists had forecast.

June's reading was revised to 93.8 from 93.6, thus the indicator was unchanged from May.

"The Barometer continues to indicate below-average momentum," the think tank said.

The KOF noted that the situation has become slightly move favorable than before in manufacturing, other services, accommodation and food service activities as well as financial and insurance services and construction.

Consumer prospects are practically unchanged and export demand remain sluggish.

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