Swiss KOF Economic Index Unexpectedly Eases In December

(RTTNews) - The economic leading indicator, a measure of the health of the Swiss economy eased unexpectedly in December, but slightly, survey figures from the KOF Swiss Economic Institute showed Wednesday.

The KOF Economic Barometer dropped slightly to 98.7 in December from 98.9 in the previous month, which was revised from 98.7. Economists had expected the index to rise to 99.5.

"With this reading, the KOF Economic Barometer stays slightly below its long-term average for the fourth month in a row. Accordingly, the near-future economic outlook for Switzerland is cautiously steady", the think tank said.

Banking and consumption sectors contributed negative impulses to the leading index and these slightly negative tendencies were outweighed by the positive signals from the construction sector during the month.