Swiss KOF Economic Barometer dropped to 96.2 in April, down from 97.1 and missed expectation of 97.0. KOF noted that the Barometer value is still “clearly below average”. Also, the Swiss economy will remain sluggish in the coming months.
KOF also said that the decline was largely due to deterioration in manufacturing sector. Construction also dropped slightly. The signals for private consumption as well as the banking and insurance sector was almost unchanged. The outlook for other service providers, accommodation and food service activities and for foreign demand was slightly better than in the previous month.
