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Swiss KOF economic barometer dropped to 96.9 in Jun, subdued outlook in upcoming months

Swiss KOF Economic Barometer dropped from 97.7 to 96.9 in June, slightly above expectation of 96.8. It’s now below long-term average for the second month in a row. KOF said, “the outlook for the Swiss economy in the upcoming months therefore remains subdued.”

KOF added: “The downward movement of the barometer is primarily driven by bundles of indicators for foreign demand and manufacturing. Only indicators for the financial and insurance services sector and for the construction sector are at a nearly constant level. However, indicator bundles for private consumption show a slight positive trend.”

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