Swiss KOF Leading Indicator Rises In September

(RTTNews) - A measure signaling future turning points in the Swiss economy improved in September but still remains subdued, the results of a survey by the KOF Swiss Economic Institute showed Tuesday.

The economic barometer rose to 98.0 in September from an upwardly revised 97.4 in August. Nonetheless, it was still below the medium-term average of 100.

In September, the production-side indicator bundles, including manufacturing and financial and insurance services, point to an improved outlook in particular, while on the demand side, the indicators for foreign demand weakened. Data showed that the prospects for private consumption remain unaltered, the KOF said.

Within manufacturing, positive developments were particularly shown by the sub-indicators for the wood, glass, stone, and earth segment; paper and printing products; and the electrical industry. On the contrary, indicators for the chemical and pharmaceutical industry as well as for machinery and equipment manufacturing experience a setback.