Economic indicator drops further
One of Switzerland's leading economic indicators fell again in October, signalling that the economic downturn will continue well into 2002.
Economic researchers at the Federal Institute of Technology in Zurich said on Friday that their index was at its lowest point since the end of 1996.
The barometer, which indicates how the Swiss economy is expected to perform in six to nine months, fell to minus 1.02 in October from a downwardly revised minus 0.87 in September.
The researchers said in a statement that the slowdown in overall activity seen since early last year would, according to the barometer, continue in the first half of next year.
However, they noted that private consumption should still help support economic growth.
The Swiss National Bank outlines its monetary policy framework next Friday, with economists expecting it to cut a key interest rate by as much as half a per cent.
They point to mounting evidence that economic growth is slowing down and the fact that annual inflation fell to 0.3 per cent in November, way below the two per cent ceiling the National bank equates with price stability.
swissinfo with agencies
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