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Switzerland's Leading Indicatior Disappoints, Stoking Increased Growth Fears
Friday, 31 October 2008 10:48:18 GMT
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The Swiss October KOF indicator dropped to just 0.35. This was much lower than our median of 0.50 and September data were revised down to show a reading of just 0.52, compared to 0.62 reported initially. The October reading is the lowest level in more than five years with the deepening of the financial crisis clearly having an impact. Switzerland's important financial sector has taken a hit while exports are being hampered by the prospect of weakening world growth.
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