A leading indicator for the Swiss economy fell for a second straight month in November, suggesting the economic outlook is set to remain lackluster in the coming months, survey data from the think tank KOF showed Monday.
The leading index dropped to 103.5 from 106.3 in October, which was revised from 106.6. Economists had expected a score of 101.
“The barometer is thus moving towards its long-?term average, which means that the outlook for the Swiss economy remains subdued also in view of the current pandemic situation,” the KOF said.
The latest decline in the index was primarily due to a bundle of indicators from the manufacturing sector and private consumption, the think tank added.
The material has been provided by InstaForex Company – www.instaforex.com
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