Swiss KOF Economic Barometer improved from 99.7 to 101.7 in April, above expectation of 99.3. It’s back above long-term average of 100 after dipping below that level in March. Outlook for the Swiss economy is therefore rather favorable in the short term.
KOF said, accommodation and food service activities and the other services sector are responsible for the rise. On the other hand, indicators for foreign demand are currently the strongest drag.
It added, “this contrast highlights the tension between Corona easing and international burdens, especially the Ukraine war.”
Also from Swiss, retail sales dropped -6.6% yoy in March, below expectation of 13.3% yoy rise.
