Switzerland’s economic outlook is set to improve somewhat at the beginning of 2023, results of a key survey by KOF Swiss Economic Institue showed on Friday.
The economic barometer rose to a three-month high of 92.2 points in December from 89.5 in September, which was revised from 89.2, the KOF Swiss Economic Institute said. Economists had forecast a score of 90.5.
The KOF barometer, which is a leading indicator for turning points in the Swiss economy, improved for the first time in six months.
The relatively strong upward movement of the barometer is primarily driven by indicators from the manufacturing and the other service sectors.
Within the goods producing sectors, covering both manufacturing and construction, the
strongest positive drivers are indicators assessing the employment outlook and the business situation.
Indicators assessing production capacities and the competitive situation also make a positive contribution.