2023.03.3011:05:00UTC+00Swiss KOF Leading Indicator Falls Unexpectedly To 98.2

A measure signalling future turning points in the Swiss economy decreased unexpectedly for the first time in four months in March, though marginally, results of a survey by the KOF Swiss Economic Institute showed Thursday.

The economic barometer dropped by 0.7 points from February to 98.2 in March. Meanwhile, economists had forecast the index to rise to 100.5.

Overall, the barometer was hardly changed from the previous month, but there were negative signals from the manufacturing, services and construction sectors. These were at least partly offset by positive developments in the indicator bundle reflecting Swiss exports, the KOF said.

Within manufacturing, the electrical and wood industries, in particular, signaled a downturn, followed by the chemical industry. In contrast, positive signals came from the textile and paper industries.