Swiss outlook positive for the second straight month

Swiss economy can look at the future in a positive way. The Swiss KOF business sentiment index increased slightly to 102.7 for July from a revised 102.6 in June from the original 102.4 and was significantly above the consensus forecast of 101.6. The National Bank will be relived that competitiveness concerns have eased slightly with no additional pressure for measures to weaken the currency.

Despite Brexit and various other geopolitical risks, the barometer has hardly moved, the KOF highlights in a statement today. Since last February, the indicator moves steadily above the long-term average. Uncertainties regarding the keeping of the global economy, according to the KOF, improved opportunities for the Swiss export industry. Even the banking sector indicators are higher. The outlook relating to consumption, construction and tourism remain stable.