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Financial News: Swiss KOF Leading Indicator Tumbles In May

Swiss KOF Leading Indicator Tumbles In May

05/30/2017 - 03:52:00 (RTTNews)

(RTTNews) - A measure signaling future turning points in the Swiss economy declined markedly in May after a modest easing in the previous month, survey results from the KOF Swiss Economic Institute showed Tuesday.

The KOF leading indicator dropped to 101.6 from 106.3 in April, which was revised from 106.

The latest decline was mainly due to negative contributions by manufacturing. Further, the indicators for the export development and for domestic consumption as well as the ones from the financial and the constructing sectors contributed negatively, the KOF said.

With a standing slightly above its long-term average, the Barometer is signalling solid growth rates for the Swiss economy around its long-term average, the think tank said.

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