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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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza