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SWITZERLAND DATA: February KOF Suggests "Robust Outlook" For Swiss Economy

SWITZERLAND DATA
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The Swiss KOF Economic Barometer fell in February to 101.7 vs the revised January print of 103.0. This was below the consensus expectation of 102.0 and today's 101.7 reading was only just above the January print before its revision (it was previously reported at 101.6).

  • “While faced with headwinds, the Swiss Economy shows a robust outlook”, the KOF institute concludes.
  • Strength is seen in the demand-side indicators for foreign demand and private consumption - while the production-side indicator bundles except for construction are "under pressure" according to the institute.
  • A reminder that yesterday's final Q4 GDP came in at 0.5% Q/Q on a sports event-adjusted basis, stronger than indicated by the flash release and Q3's +0.2% (see 'Q4 GDP Stronger Than Expected, Appears Broad-Based' - MNI, Feb 27). Statistics office SECO commented that "growth was driven roughly equally by industry and the services sector" on the release.
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The Swiss KOF Economic Barometer fell in February to 101.7 vs the revised January print of 103.0. This was below the consensus expectation of 102.0 and today's 101.7 reading was only just above the January print before its revision (it was previously reported at 101.6).

  • “While faced with headwinds, the Swiss Economy shows a robust outlook”, the KOF institute concludes.
  • Strength is seen in the demand-side indicators for foreign demand and private consumption - while the production-side indicator bundles except for construction are "under pressure" according to the institute.
  • A reminder that yesterday's final Q4 GDP came in at 0.5% Q/Q on a sports event-adjusted basis, stronger than indicated by the flash release and Q3's +0.2% (see 'Q4 GDP Stronger Than Expected, Appears Broad-Based' - MNI, Feb 27). Statistics office SECO commented that "growth was driven roughly equally by industry and the services sector" on the release.
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