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Financial News: Swiss KOF Indicator Signals Subdued Economic Outlook

Swiss KOF Indicator Signals Subdued Economic Outlook

11/29/2019 - 08:28:00 (RTTNews)

(RTTNews) - Switzerland's economic outlook is set to remain subdued, the KOF Swiss Economic Institute said on Friday, as it leading indicator unexpectedly dropped to reach its lowest level since 2015.

The KOF Economic Barometer fell to 93.0 from 94.8 in October, which was revised from 94.8, survey data from the think tank showed. Economists had expected a score of 95. In September, the reading was 93.1.

The barometer is still well below its long-?term average, the KOF said. The latest fall was mainly led by negative signals from hotel and catering activities and from the banking and insurance sector, the group said.

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