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Swiss Economy Set For Weak Phase Ahead - KOF

A measure of Switzerland's future economic performance declined for a fifth consecutive month in February and at a sharp rate, suggesting that the economy is set for some slowdown in the coming months.

The KOF Economic Barometer fell to 92.4 from January's 96.2, which was revised from 95 reported initially, figures from the Zurich-based KOF Swiss Economic Institute showed on Thursday. Economists had expected the reading to remain unchanged at 95.

"The Swiss economy can expect to experience a weak phase in the coming months," the KOF said.

The marked decline in February was mainly due to negative impulses from the manufacturing industry, the think tank added.

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