Swiss KOF Leading Indicator Improves Further

(RTTNews) - A measure signaling future turning points in the Swiss economy strengthened further in October to the highest level in eight months, the results of a survey by the KOF Swiss Economic Institute showed Thursday.

The economic barometer rose to 101.3 in October from 98.0 in September. Moreover, the indicator now climbs above its medium-term average of 100, indicating an improving outlook in the Swiss economy.

In October, most of the indicator bundles showed positive developments, especially for manufacturing, for financial and insurance services, and for other services, showing a more favorable outlook. Meanwhile, the indicator for private consumption experienced a setback.

The indicator bundle for the producing industry, including manufacturing and construction, showed that a brightening outlook was particularly seen for stockpiling of intermediate goods as well as for stocks of finished products.