Swiss KOF Economic Barometer Improves In July

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Friday, economic think tank KOF said its economic barometer for Switzerland rose to minus 0.99 points in July from a revised minus 1.49 in June. Economists had forecast for a reading of minus 1.45.

The KOF said the low reading suggests that Swiss gross domestic product is likely to continue declining significantly over the coming months relative to the previous year.

However, the current barometer trend indicates that the GDP growth rate should bottom out soon.

Friday, economic think tank KOF said its economic barometer for Switzerland rose to minus 0.99 points in July from a revised minus 1.49 in June. Economists had forecast for a reading of minus 1.45. (Market News Provided by RTTNews)