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Financial News: Swiss KOF Leading Indicator Falls In May

Swiss KOF Leading Indicator Falls In May

05/30/2018 - 04:29:00 (RTTNews)

(RTTNews) - A measure signaling future turning points in the Swiss economy declined back to its long-term average in May, survey results from the KOF Swiss Economic Institute showed Wednesday.

The KOF leading indicator dropped to 100 in May from 103.3 in April, which was revised down from 105.3. Economists had expected the index fall to 104.7.

The last time the Barometer had a similar standing was in December 2015.

Moreover, the latest reading indicates an average development of the Swiss economy in the coming months.

The decline in May was mainly driven by the negative development of the indicators for manufacturing and the construction sector.

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