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Financial News: Swiss Economic Outlook Brightening, Yet Subdued: KOF

Swiss Economic Outlook Brightening, Yet Subdued: KOF

12/30/2019 - 04:18:00 (RTTNews)

(RTTNews) - Switzerland's economic outlook is set to brighten at the start of next year, yet remain subdued, the KOF Swiss Economic Institute said on Monday.

The KOF Economic Barometer rose to 96.4 from 92.6 in November, which was revised from 93, survey data from the think tank showed. Economists had expected a score of 94.5.

In October, the reading was 94.8.

The barometer that tended to fall during the year, has thus fully recovered, the KOF said. However, the reading is still below its long-?term average.

December's distinct increase was primarily due to bundles of indicators from the manufacturing sector, while positive signals also came from measures covering other services and foreign demand, the survey found. Further, indicators concerning private consumption as well as hotel and catering activities revealed a moderate increase.

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