Swiss KOF Economic Barometer dropped to 53.2 in May, down from 59.7, missed expectation of 70.2. The reading has halved now since the beginning of the year. KOF said that as in April, “the manufacturing sector continues to have the strongest negative impact. Indicators relating to foreign demand also have a clearly negative impact on the barometer.” By contrast, “private consumption and the construction industry are sending slightly improved signals.”

Full release here.

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