KOF Barometer stabilizes in March
Published: Thursday, Mar 28th 2024, 10:20
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The outlook for the Swiss economy remains positive. This is shown by the KOF Economic Barometer, which stabilized further last March.
At 101.5 points, the barometer of the ETH economic research institute KOF fell by 0.5 points in March compared to the previous month. However, the indicator remains above its long-term average, the KOF reported on Thursday.
With the current reading, the barometer developed roughly in line with economists' expectations. Experts surveyed by the news agency AWP had forecast a value of between 101.0 and 102.5 points for March.
The barometer has risen repeatedly since the middle of last year. At the current level, the outlook for the Swiss economy remains good.
The fact that the barometer fell slightly compared to February is mainly due to the construction industry and private consumption indicators. In contrast, the situation in the finance and insurance sector has brightened, the press release continues.
In the manufacturing sector, which includes the processing and construction industries, assessments of employment prospects and the order situation in particular deteriorated in the month under review. In contrast, the indicators covering the situation for primary products sent out a strongly positive signal.
Within the manufacturing sector, the textile industry, the metal industry and the wood, glass, stone and earth sectors stand out positively. In contrast, slightly negative signals can be seen in the automotive and mechanical engineering sectors.
Important leading indicator
The KOF Economic Barometer is a leading indicator for the development of the Swiss economy, which is made up of a large number of individual indicators. These are combined into an overall indicator using statistically determined weightings.
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