Investing.com - Switzerland’s leading economic barometer improves slightly less-than-expected in February, industry data showed on Wednesday.
In a report, the KOF Economic Research Agency said its index of 12 leading indicators improved by 0.03 points to minus 0.12 in February from January’s reading of minus 0.15, which was revised from a previously reported minus 0.17.
Analysts had expected the index to improve by 0.04 points to 0.11 in February.
The KOF Economic Barometer stopped its negative trend in February. For the first time since May 2011 it shows an increase albeit of a small magnitude.
However, it still is in negative territory indicating that over the next few months Swiss economic growth is likely to decline slightly in year-on-year terms.
The index is derived via a combined reading of 12 economic indicators related to banking confidence, production, new orders, consumer confidence and housing.
Following the release of the data, the Swiss franc remained modestly higher against the U.S. dollar, with USD/CHF easing down 0.04% to trade at 0.8953.
In a report, the KOF Economic Research Agency said its index of 12 leading indicators improved by 0.03 points to minus 0.12 in February from January’s reading of minus 0.15, which was revised from a previously reported minus 0.17.
Analysts had expected the index to improve by 0.04 points to 0.11 in February.
The KOF Economic Barometer stopped its negative trend in February. For the first time since May 2011 it shows an increase albeit of a small magnitude.
However, it still is in negative territory indicating that over the next few months Swiss economic growth is likely to decline slightly in year-on-year terms.
The index is derived via a combined reading of 12 economic indicators related to banking confidence, production, new orders, consumer confidence and housing.
Following the release of the data, the Swiss franc remained modestly higher against the U.S. dollar, with USD/CHF easing down 0.04% to trade at 0.8953.