Swiss KOF edges down in September to 2.32 from revised 2.44

The Swiss KOF indicator, a gauge for future economic development, has eased to 2.32 points in September from August´s 2.44 which has been upwardly revised from the previously published 2,42, according to data published by the KOF thin tank.The reading has not met the analysts expectations, which advanced 2.42 points in September, therefore we can expect lower Swiss growth rates in the next few months.

The University of Zurich's Centre for Economic Research (KOF) said its economic barometer fell to 2.32 points in September, the lower-end of economists' forecasts, the second decline in the indicator after 13 consecutive rises. Economists' forecasts ranged from 2.32-2.42 points. The August indicator was revised to 2.44 points, from 2.42 points previously. "The latest barometer confirms that a turning point was passed around the middle of this year," KOF said in a statement. It added that this signals an acceleration in GDP growth until the end of the year, followed by a slow down as of next year.