Economic decline predicted to slow
The KOF Swiss Economic Barometer continued its upward trend in July, rising from -1.49 points to -0.99 points.
The indicator had improved from -1.65 to -1.49 in June, but economists at the KOF Swiss Economic Institute at the Federal Institute of Technology in Zurich said gross domestic product would “continue to decline significantly.
“However, the current barometer trend indicates that the GDP negative growth rate should bottom out soon,” KOF said in a statement on Friday.
The index, which anticipates the evolution of the Swiss economy six months ahead, is based on a survey of some 4,200 firms carried out every month.
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