Swiss KOF Economic Barometer dropped to 93.2 in September, down from 95.5, missed expectation of 94.5. KOF said “downward tendency that has been evident since the beginning of the year is now continuing”. Swiss economic outlook “remains gloomy towards the end of 2019.”
It added that the decline is primarily due to declining developments in the manufacturing industry. The indicator bundle for the service industry and the accommodation and food service industry slightly reinforce this decline. By contrast, private consumption, foreign demand and the construction industry remain stable relative to the previous month.
