Swiss KOF economic barometer dropped to 106.0 in March, down from 108.4, below expectation of 107.2.
KOF noted in the release that “notwithstanding this decline, the present position is still on a level clearly above its long-term average.” This indicates that in the near future the Swiss economy should continue to “grow at rates above average”.
- The strongest negative contributions to this result come from manufacturing, followed by the indicators from the exporting industry.
- Within manufacturing, clear negative outlook came from metal, followed by wood, textile and food processing
- The indicators from the financial sector, from the hospitality industry and those relating to domestic private consumption have remained practically unchanged.