Swiss KOF Economic Barometer Continues Upward Trend


01/07/2012 07:37 AST  RTT News

A forward-looking gauge of Swiss economic activity continued to improve in June, signaling further expansion of the Swiss economy on a year-on-year basis.

The KOF Institute said Friday its economic barometer for the Swiss economy increased to 1.16 in June from a revised 0.80 in May. Economists had expected a moderate fall to 0.78.

"This indicates that during the next few months, the expansion of the Swiss Gross Domestic Product (GDP) is expected to gain further momentum," the KOF said.

The Economic Barometer is based on a multisector design with three modules. The Core GDP module, that encompasses 90 percent of Swiss GDP, as well as the Construction module are on the rise in positive territory.

The "Banking" module showed no change, continuing its sideways movement.

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