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Switzerland KOF Economic Barometer rises to 109.1 in September
The barometer beat the 105.8 consensus and marked a second straight month above Switzerland’s medium-term average, with gains spanning manufacturing, services, and construction.
Switzerland’s KOF Economic Barometer climbed to 109.1 in September from a revised 107.5 in August, according to Action Forex.
The reading beat the 105.8 consensus and extended a sequence of consecutive monthly increases, with the index still clearly above its medium-term average, the KOF Swiss Economic Institute said the outlook for the Swiss economy “remains favourable.”
The improvement was relatively broad, with particularly positive developments in manufacturing, services, and construction, including stronger indicators for exports, inventories of intermediate products, and the general business situation.
However, Action Forex reported that some areas weakened, including indicators for foreign demand and financial and insurance services, while employment prospects remained under pressure, and machinery and equipment manufacturing slowed.