A forward-looking measure of the health of the Swiss economy unexpectedly surged at the start of the year, driven mainly by manufacturing, and suggested that economic momentum is set to accelerate in the near term, survey data from the Zurich-based Swiss Economic Institute KOF showed Friday.
The KOF Economic Barometer climbed to 100.3 from 96.8 in December, which was revised from 96.6. Economists had expected the index to fall to 96.
“According to the Barometer, the momentum of the Swiss economy in the near future can be expected to evolve close to its long-term average,” the think-tank said.
Positive signals also came from the financial sector, Swiss exports, and from construction, the KOF noted. Meanwhile, the indicators related to the Swiss hospitality sector acted as a drag, and those related to private consumption emitted a neutral signal.
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