A leading indicator for turning points in Switzerland's economy signaled that the near term outlook for the economy was likely less than encouraging, results of a survey by the KOF Swiss Economic Institute showed Tuesday. The KOF Economic Barometer fell by 4.0 points, to 86.5 from 90.5, which was revised from 90.1.
A downward trend has been emerging since the last peak in May 2021, the think tank said. This has now continued unabated for four months in a row, the KOF added. The KOF attributed the latest decline primarily to indicators broadly associated with private consumption.
The manufacturing sector and the construction industry were also giving negative signals.
