Swiss KOF Leading Indicator Unexpectedly Falls For Second Month

(RTTNews) - A measure of the health of the Swiss economy unexpectedly fell for a second straight month in December to its lowest level in eight months, signaling that a slightly dimmed outlook for the Swiss economy persists.

The KOF Economic Barometer shed 0.7 points to reach 96.6, the Zurich-based KOF Swiss Economic Institute said Wednesday. Economists had expected an improvement in the reading to 98.9. November's score was revised to 97.3 from 97.9.

The latest fall in the index was led by a deterioration of sentiments related to Swiss manufacturing activity, indicating that the lasting effects of the franc shock are not over yet, the think tank said.

Further negative tendencies are observed in indicators related to construction activity, especially among architects, as well as those related to private consumption, the KOF added.

That said, these negative tendencies are partly counterbalanced by an improving outlook for indicators related to foreign demand and the financial industry.