Swiss KOF Economic Barometer rose to 94.7 in October, up from 93.2, and beat expectation of 94.2. The index halted its downward movement, “at least for the time being”, but it’s still well below its long term average.
KOF said the increase is “attributable in particular to bundles of indicators from the banking and insurance sector as well as from accommodation and food service activities”. Also, “indicators regarding foreign demand and other services are pointing in a slightly less negative direction”. But “indicators from the manufacturing sector record a slight decline.”
