30 Apr 2014
Swiss KOF index declines for a second month
FXStreet (London) - The economic barometer released by the Swiss Economic Institute declined for a second month in April. The index fell to 102.0 (from a revised 106.3 last month), but the KOF Barometer is still above its long-time average. According to the institute, the Swiss economy continues to perform well but could face headwinds in coming months. In particular, the institute reports declining optimism among Swiss exporters.
Revisions to the KOF Economic Barometer
Like the March figure, the April KOF Economic Barometer is based on an adjusted reference series. The old version of the KOF Economic Barometer used the previous year’s GDP growth rate published by the Swiss State Secretariat for Economic Affairs (SECO) as a yardstick. The revised Barometer still incorporates SECO data; however, KOF has changed over to month-on-month changes in GDP which are generated via statistical methods. As a result, the barometer from KOF for a reference series is not about exact GDP figures but about the direction and strength of the economic trend.
Revisions to the KOF Economic Barometer
Like the March figure, the April KOF Economic Barometer is based on an adjusted reference series. The old version of the KOF Economic Barometer used the previous year’s GDP growth rate published by the Swiss State Secretariat for Economic Affairs (SECO) as a yardstick. The revised Barometer still incorporates SECO data; however, KOF has changed over to month-on-month changes in GDP which are generated via statistical methods. As a result, the barometer from KOF for a reference series is not about exact GDP figures but about the direction and strength of the economic trend.