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A leading indicator for the Swiss economy signaled that the economic recovery after the pandemic is set to slow further in the coming months.
The economic barometer dropped to 110.6 in September from 113.5 in August, results of a survey by the KOF economic institute showed Thursday. Economists had forecast a score of 110.
The indicator eased for fourth straight month. Despite the slowing in recent months, the barometer remains above its long-term average.
The recurring decline is primarily attributable to bundles of indicators concerning foreign demand, the think tank said.
Further, the manufacturing sector indicators also gave negative signal, followed by those of the other services sector. Meanwhile, indicators from the finance and insurance sector gave slightly positive impulses, KOF said.
