Swiss KOF Leading Indicator Rises Slightly In May

(RTTNews) - A measure signaling future turning points in the Swiss economy increased marginally in May, though the outlook remains muted, the results of a survey by the KOF Swiss Economic Institute showed Friday.

The economic barometer rose to 98.0 in May from a revised 97.8 in April. However, it continued to stay below its medium-term average of 100.

The almost unchanged barometer was apparent in the mixed developments of the indicator bundles, the survey said.

Considering production-side indicator bundles, the indicators for manufacturing especially remained under pressure, while a positive outlook was seen in the indicators for financial and insurance services.

Demand-side indicators showed that foreign demand exhibited more favorable developments, while the indicators for private consumption experienced a setback.

Within manufacturing, the indicators for paper and printing products showed particularly positive developments. On the other hand, the sub-index for the textile and electrical industries weakened.