FX.co ★ Swiss KOF Economic Barometer Declines In December

In December, Switzerland's economic indicators, which help identify turning points, showed a decline, signaling a more subdued outlook. This information was revealed by the KOF Swiss Economic Institute's survey results, released on Monday.

The KOF Economic Barometer dropped more than anticipated, falling to 99.5 in December from a revised figure of 102.9 in November. Expectations had placed the reading at 101.1. Despite an upswing in November, the index has now dipped slightly below its medium-term average.

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

All components of the barometer contributed to the negative trend, with significant declines observed in the indices for manufacturing and other services. Additionally, the hospitality sector, foreign demand, and private consumption indicators experienced notable decreases in December.