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Economy And The Numbers

Swiss KOF Leading Indicator At 7-Month High Suggests Less Gloom

By Jyotsna V   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

A leading indicator for Switzerland's economy rose at the start of the year, for a second month in a row, to its highest level in seven months reflecting a less gloomier outlook, survey data from the Zurich-based KOF Swiss Economic Institute showed Monday.

The KOF Economic Barometer gained 5.7 points to reach a level of 97.2 in January. Economists had forecast a score of 93.3.

The December reading was revised to 91.5 from 92.2.

The January score was the highest since June last year, when the reading was 98.1.

"It nonetheless remains below its medium-term average," the KOF said.

"But the outlook for the Swiss economy at the beginning of the year is considerably less gloomy than it was in autumn last year."

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