Swiss economy could be on the turn
The Swiss economy will continue to decline in the coming months, but at a slower rate, according to the monthly barometer of the KOF Swiss Economic Institute in Zurich.
According to researchers, the recent evolution of the barometer indicates that lowest point in the decline of the Gross Domestic Product (GDP) may have been reached.
The index of the barometer fell by 1.65 points in June, 0.2 points less than in May, when it reached its lowest point since 1991. This is the first time the KOF barometer has improved for nearly two years.
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.
At a meeting in Paris on Wednesday the Organisation for Economic Co-operation and Development issued a report saying Switzerland could expect a 2.7 per cent economic decline in 2009.
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