Financial News: Swiss KOF Leading Indicator Rises For First Time

Swiss KOF Leading Indicator Rises For First Time In 3 Months

04/30/2024 - 03:33:00 (RTTNews)

(RTTNews) - A measure of the turning points in Switzerland's economy rose in April after declining in the previous two months, suggesting an improvement in the outlook, survey data from the KOF Swiss Economic Institute showed on Tuesday. The KOF Economic Barometer rose to 101.8 from 100.4 in March, which was revised from 101.5. Economists were looking for a score of 102.1. The latest reading was also the highest since January, when the score was 102.7.

"With this increase, the barometer settles in the slightly above-average range," the think tank said. "The Swiss economic development is robust, but there is currently no strong boost in sight."

The KOF said the outlook is improving for the majority of the sectors, especially financial and insurance services, manufacturing and private consumption.

Meanwhile, the outlook for the construction and hospitality industries was slightly bleaker than in March.

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