Swiss KOF Economic Barometer dropped to 100.1 in October, down from 102.2 and missed expectation of 100.8. It sits just above long-term average of 100, and suggests that the Swiss economy is likely to “grow with average rates” in the coming months.
KOF noted that the “decline is quite broadly visible in various indicator bundles.” But the fall in manufacturing sector is “particularly striking”. And inside the sector, “downward tendency was led by the machinery and vehicle manufacturers as well as the chemicals, pharmaceuticals and plastics industry”.
