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Swiss KOF Economic Barometer Falls For Fourth Month

A measure reflecting Switzerland's economic trends in advance fell for a fourth straight month in January, defying expectations for a modest improvement, survey data from the KOF Swiss Economic Institute showed on Wednesday.

The KOF Economic Barometer fell to 95 points from 96.4 points in December, which was revised from 96.3 points reported initially. Economists had forecast a score of 97.2 .

The index reading was 5 points below its long-term average.

The downward tendency that emerged at the end of last year continues and the economic outlook for Switzerland continues to dampen at the beginning of 2019, the KOF said.

The think tank attributed the latest renewed decline to negative developments within the manufacturing industry and the service industry as well as a weaker outlook for exports.

In contrast, indicators for the hotel and catering sector, the banking and insurance sector as well as the construction sector send positive signals, the KOF added.

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