ZURICH, Nov 28 (Reuters) - Switzerland's leading growth barometer, the KOF, fell to its lowest level in over five years in November as the global economic slowdown weighs on exports, adding to signs that Switzerland faces a recession.
The indicator, which points to the economy's likely performance in six month's time, fell to -0.05 in November from a downwardly revised +0.28 in October, the KOF Swiss Economic Institute said on Friday.
This was the lowest since June 2003 and well below the median forecast of +0.19 in a Reuters poll of 14 analysts.
"The barometer is signalling that Swiss economic growth is likely to be flat in the coming months," the KOF said.
Switzerland is in the middle of a severe economic crisis and will see negative growth next year, Swiss National Bank board member Philipp Hildebrand was quoted on Wednesday as saying.
Earlier this month, the SNB cut interest rates by 100 basis points in a bid to avert a recession as the global outlook deteriorates quickly.
Data this week showed that employment growth had eased in the third quarter and was set to weaken further in the next few months, darkening the outlook for Swiss consumer spending before Christmas.
(Reporting by Katie Reid in Zurich; editing by David Stamp)