Swiss KOF Economic Barometer dropped from 105 to 99.7 in March, worse than expectation of 101.0. The index is now slightly below its long-term average.
KOF said: “The recovery from the economic consequences of the pandemic is now overshadowed by the war in Ukraine. Overall, a moderate development of the Swiss economy can be expected for the near future.”
“The decline is primarily due to indicators from the manufacturing sector, followed by those for private consumption. The other indicators included in the barometer show hardly any changes.”