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Swiss KOF Indicator Signals Economic Activity Rebound Ahead

A measure signaling turning points in Switzerland's economy rose above its long-term average in February, suggesting economic activity is set to pick up in the months ahead.

The Economic Barometer rose to 102.7 points in February, which is slightly above its long-?term average of 100, from 96.5 in January, the think tank KOF said Friday. Economists had expected a modest increase to 96.6.

The KOF attributed the strong increase mainly to the improvement in the service sector indicators.

"Slightly negative signals are coming from the indicators relating to foreign demand," KOF said.

"The prospects for the other economic activities recorded in the barometer have hardly changed compared to January."

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