Swiss KOF Economic Barometer rose to 110.2 in August, up from 86.0, well above expectation of 90.0. It’s the third straight month of rise, and it’s now well above long-term average. KOF also said, “the Swiss economy is in the upswing phase of what appears for the time being a V-shaped recession.”
The indicator groups for manufacturing, the hospitality sector and foreign demand are primarily responsible for the current increase. To a lesser extent, the indicators relating to financial and insurance services as well as other services contributed to the improvement. The construction sector, on the other hand, recorded a slight deterioration.
