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Financial News: Swiss Economic Outlook Remains Subdued: KOF

Swiss Economic Outlook Remains Subdued: KOF

10/28/2022 - 09:14:00 (RTTNews)

(RTTNews) - Switzerland's economic outlook is set to remain subdued in the coming months, results of a key survey showed Friday.

The economic barometer fell to 90.9 points in October from 92.3 in September, which was revised from 93.8, the KOF Swiss Economic Institute said. Economists had forecast a score of 93.2.

The KOF barometer, which is a leading indicator for turning points in the Swiss economy, fell for a fourth straight month and was below its long-term average for the sixth time in a row.

"The downward movement of the barometer is primarily driven by bundles of indicators from the manufacturing as well as the accommodation and food service activities sectors," the KOF said.

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