Swiss Feb Kof barometer strongest since late 2007

Switzerland’s leading KOF economic growth barometer rose to its highest since December 2007 in February, beating analysts’ expectations and confirming views that the economy was on track for a solid recovery.

The barometer increased to 1.87 points in February, the KOF Swiss Economic Institute said, more than the 1.80 reading forecast by analysts ECONCH. January’s reading was revised up to 1.81 from 1.77.

The barometer surged last year, though the monthly increases have slowed recently, indicating that the recovery would likely continue at a slower pace. Switzerland emerged from the worst recession in decades over the summer and several recent indicators have pointed to further recovery, though economists expect joblessness to peak later
this year.

Reuters

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