Swiss KOF Economic Barometer rose from 91.5 to 97.2 in January, well above expectation of 93.3. That’s the second month of rise in a row, but the index remains below its medium term average. KOF said, “the outlook for the Swiss economy at the beginning of the year is considerably less gloomy than it was in autumn last year.”
KOF also noted: “All bundles of indicators contribute to the improvement. They are developing particularly favourably in manufacturing, hospitality and the services sector. Nevertheless, the indicator bundles for manufacturing and services are below their medium-term average. The indicators for the hospitality sector, on the other hand, jump above the average, so the prospects here are now better than average.”
