Financial News: Swiss KOF Leading Indicator Weakens In October

Swiss KOF Leading Indicator Weakens In October

10/30/2024 - 07:52:00 (RTTNews)

(RTTNews) - A measure signaling future turning points in the Swiss economy weakened notably in October as the recovery of the economy is very uncertain, the results of a survey by the KOF Swiss Economic Institute showed Wednesday.

The economic barometer dropped to 99.5 in October from a downwardly revised 104.5 in September. Meanwhile, economists had forecast a score of 105.1.

Although it is still within the medium-term average range, for the first time since January of this year it is no longer above the 100 mark, the KOF said.

There were decreases in every production-side indicator, including construction, hotel, financial and insurance services, manufacturing, and other services.

Although foreign demand and consumer demand are not following the downward trend, this does not currently give hope for stronger impetus.

Within manufacturing, the outlook is becoming bleaker, particularly for chemical and pharmaceutical companies, the metal industry, the wood, glass, stone, and earth segment, and for food and beverage producers.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Japan, Australia Central Banks To Release Minutes (04 hr(s), 11 min(s), 41 sec(s) ago)
(RTTNews) - The Bank of Japan will on Tuesday release the minutes from its monetary policy meeting ...Full Story»

South Korea Consumer Confidence Index Tumbles In December - BoK (04 hr(s), 28 min(s), 41 sec(s) ago)
(RTTNews) - The Composite Consumer Sentiment Index (CCSI) for December stood at 88.4, 12.3 points ...Full Story»

Two-Year Note Auction Attracts Above Average Demand (06 hr(s), 44 min(s), 41 sec(s) ago)
(RTTNews) - The Treasury Department announced the results of this month's auction of $69 billi ...Full Story»

N. Macedonia, Slovenia Central Bank Chiefs Say Financial Stability Has Further Strengthened (07 hr(s), 03 min(s), 41 sec(s) ago)
(RTTNews) - Central bank governors of North Macedonia and Slovenia have expressed confidence that ...Full Story»

Slovenia Housing Prices Rise Again In Q3, Sales At 14-Year Low (07 hr(s), 31 min(s), 41 sec(s) ago)
(RTTNews) - Prices of existing dwellings in Slovenia rose for a fourth consecutive quarter in a ro ...Full Story»

U.S. New Home Sales Show Significant Rebound In November (11 hr(s), 02 min(s), 41 sec(s) ago)
(RTTNews) - After reporting a sharp pullback by new home sales in the U.S. in the previous month, ...Full Story»

U.S. Consumer Confidence Unexpectedly Deteriorates In December (11 hr(s), 04 min(s), 41 sec(s) ago)
(RTTNews) - Consumer confidence in the U.S. has unexpectedly deteriorated in the month of December ...Full Story»

U.S. Durable Goods Orders Pull Back More Than Expected In November (11 hr(s), 14 min(s), 41 sec(s) ago)
(RTTNews) - New orders for U.S. manufactured durable goods slumped by much more than expected in t ...Full Story»