Investing.com – Switzerland’s leading economic barometer rose unexpectedly in March, rising for the second consecutive month, industry data showed on Wednesday.
In a report, the KOF Economic Research Agency said its index of 12 leading indicators rose to 2.24 in March, after rising to 2.19 in February, whose figure was revised up from 2.18.
Analysts had expected the economic barometer to fall to 2.16 in March.
The report added that “the year-on-year growth rate of Swiss Gross Domestic Product should remain positive and even exhibit some increasing momentum.”
Following the release of the data, the Swiss franc was down against the U.S. dollar, with USD/CHF gaining 0.2% to hit 0.9218.
In a report, the KOF Economic Research Agency said its index of 12 leading indicators rose to 2.24 in March, after rising to 2.19 in February, whose figure was revised up from 2.18.
Analysts had expected the economic barometer to fall to 2.16 in March.
The report added that “the year-on-year growth rate of Swiss Gross Domestic Product should remain positive and even exhibit some increasing momentum.”
Following the release of the data, the Swiss franc was down against the U.S. dollar, with USD/CHF gaining 0.2% to hit 0.9218.