Financial News: Swiss KOF Leading Indicator Improves In September

Swiss KOF Leading Indicator Improves In September

09/30/2024 - 07:52:00 (RTTNews)

(RTTNews) - A measure signaling future turning points in the Swiss economy strengthened in September, reflecting a recovery tendency on path in the economy, the results of a survey by the KOF Swiss Economic Institute showed Monday.

The economic barometer climbed 101.5 in September from an upwardly revised 105.0 in August. Economists had forecast a score of 101.0.

In September, almost all indicator bundles for the economic sectors point to a more favorable outlook than before, the KOF said.

The rise in September was primarily due to the indicators for the manufacturing industry and, to a lesser extent, those for the financial and insurance services, the construction industry, and other services.

Within manufacturing, the outlook looks brightening for chemical and pharmaceutical companies as well as for the metal industry. By contrast, it is weakening for the electrical industry and the textile and clothing segment.

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