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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SWITZERLAND DATA
The Swiss KOF Economic Barometer dropped to 99.5 in October, significantly below consensus of 105.0 and following a downwardly revised 104.5 in September. This is the first time since January that the index moved below the longer-run average level of near 100.
- “The indicator bundles of all production-side categories included in the barometer decline in October: the indicators for manufacturing, financial and insurance services, other services, hospitality and construction."
- "However, the demand-side indicators, the indicators for foreign demand and consumer demand, are not following this downward tendency. The development of the demand-side indicators, though, does not currently give hope for stronger impetus.”
- The report also highlights some particular weakness in manufacturing - which mirrors commentary from the last SNB press conference.
- The current outlook for the Swiss economy overall looks rather bright according to MNI’s collation of sellside analysts - which stands at +2.0% Y/Y for Q3 GDP growth and got revised upwardly during the last month, this would follow +1.8% Y/Y Q2 - but a continuation of lower sentiment readings could raise that into question over time. The UBS expectations survey as well as the local PMI print, both to be released over the next two days, would be what to watch here.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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