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The economic barometer increased by 1.6 points compared to October, reaching 96.7 points. The predicted values of experts participating in the AWP news agency’s survey for November were between 94.0 and 97.0 points.
The barometer is now approaching its long-term average, according to ETH economic research institute KOF on Thursday. It has been more or less stable since the middle of the year but at a below average level.
According to KOF, the increase in November is mainly due to indicators from the manufacturing sector and the “other services” economic sector. In the manufacturing sector (manufacturing and construction), indicators of the situation regarding intermediate products showed a positive development, followed by an assessment of employment prospects and the competitive situation. But indicators recording production capacities and business status remained at an almost constant level.
In the manufacturing sector, indicators showed positive development, especially in the textile industry, metal industry and mechanical engineering. However, indicators from the paper and printing industry and the wood, glass, stone and soil sectors gave negative signals. Besides the hospitality industry, other sectors such as the financial and insurance sectors also performed negatively overall.
The KOF economic barometer is an early indicator of the development of the Swiss economy, consisting of a large number of individual indicators. These are combined into an overall indicator using statistically determined weights.
Along with the Purchasing Managers Index (PMI), another important leading economic indicator will be announced on Friday (tomorrow).
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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