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Financial News: Swiss KOF Leading Indicator Rises Unexpectedly

Swiss KOF Leading Indicator Rises Unexpectedly

06/29/2018 - 05:37:00 (RTTNews)

(RTTNews) - A measure signaling future turning points in the Swiss economy improved unexpectedly in June, survey results from the KOF Swiss Economic Institute showed Friday.

The KOF leading indicator rose to 101.7 in June from 100.0 in May. Meanwhile, economists had expected the index to fall to 99.7.

Moreover, the current barometer value remained slightly above the long-term average of 100.0.

The rise in June was mainly driven by export development and domestic demand.

Meanwhile, minor impulses came from the manufacturing, banking, accommodation and food service activities sectors.

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