Swiss KOF Economic Barometer Declines In December

(RTTNews) - A measure of the turning points in Switzerland's economy declined in December after rising a month ago suggesting that the outlook has dampened, survey data from the KOF Swiss Economic Institute showed Monday.

The KOF Economic Barometer declined more-than-expected to 99.5 in December from revised 102.9 in the previous month. The reading was seen at 101.1. After rising in November, the index fell slightly below its medium-term average.

"The outlook for the Swiss economy has dampened," the KOF said.

All sub-indicators of the barometer contributed to the negative development. The indices for manufacturing and other services, as well as indicators for the hospitality industry, for foreign demand and private consumption declined considerably in December.