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KOF Barometer Falls Further in Nov

SWITZERLAND DATA
MNI (London)

SWITZERLAND NOV KOF ECONOMIC BAROMETER 89.5 (FCST 91.8); OCT 90.9

  • Despite economic sentiment largely beginning to lift off lows across the eurozone, the Swiss KOF barometer weakened further in November.
  • At 89.5, the index is 1.4 points lower and close to July lows. Pre-Ukraine invasion and the knock-on effects from the onset of a global energy crisis the indicator stood around 107.
  • Other services underpinned the negative development, whilst hospitality and private consumption indicators also softened.
  • As such, outlooks remain subdued headed into year-end. Swiss GDP growth has remained muted throughout 2022, at +0.2% q/q in Q3 and is likely to teeter on the edge of contraction into year-end.

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SWITZERLAND NOV KOF ECONOMIC BAROMETER 89.5 (FCST 91.8); OCT 90.9

  • Despite economic sentiment largely beginning to lift off lows across the eurozone, the Swiss KOF barometer weakened further in November.
  • At 89.5, the index is 1.4 points lower and close to July lows. Pre-Ukraine invasion and the knock-on effects from the onset of a global energy crisis the indicator stood around 107.
  • Other services underpinned the negative development, whilst hospitality and private consumption indicators also softened.
  • As such, outlooks remain subdued headed into year-end. Swiss GDP growth has remained muted throughout 2022, at +0.2% q/q in Q3 and is likely to teeter on the edge of contraction into year-end.

Keep reading...Show less