According to the report from KOF Economic Research Agency, the leading indicator declined slightly in December, but remained above the long-term average, which signals that the Swiss economy is likely to continue expanding early next year.
According to the report, the leading indicator fell to 107.0 from 107.5 in November (revised from 108.5). Economists had expected a drop to 106.4. The main reason for the decline in the index was the decline in private consumption components. Pressure on the index was also exerted by the deterioration of indicators from the financial and insurance sectors. Meanwhile, the further decline was restrained by an improvement in external demand indicators.
As for the sectors, there was an increase in unfulfilled orders in the manufacturing and construction sector in December. The indicators of the mining sector also showed a deterioration. On the other hand, employment indicators and the situation with intermediate goods have improved. Growth was also recorded in the textile industry and the food and beverage sector.