Daily Management Review

Swiss economy’s growth indicator falls below long-term average


According to the Center for Economic Research at the Swiss Federal Institute of Technology, one of the key measures of the Swiss economy's growth has dropped significantly below its long-term average and even lower than economists had anticipated.

Since 1970, the institute has been releasing the KOF Swiss Economic Barometer, a forecast of economic growth based on more than 200 variables. 100 represents the average growth rate.

"The KOF conjunctural barometer dropped by 4.0 points in August and is at 86.5, much below the average over the long term. Thus, in the near future, the Swiss economy should undergo some unfavorable adjustments," the institute's website states in a statement.

Before the barometer's release, AWP questioned analysts who expected a fall, but not at that level, in the range of 87.1 to 92.0 points.

source: reuters.com