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Swiss leading indicator hits 10-year high as rebound continues

ZURICH, Sept 30 (Reuters) - Switzerland’s KOF leading indicator hit a 10-year high in September, rising for the fourth time in a row as the economy extended its rebound from the depths of the coronavirus crisis.

The barometer rose 3.6 points to 113.8, comparable to levels seen at the end of the 2009/2010 financial crisis, the KOF think tank said.

“At present, the economic trend is V-shaped, so that a recovery of the Swiss economy can be expected for the time being. However, a second wave of COVID-19 could lead to a strong revision of this assessment,” it added.

The September gain reflects a bundle of indicators, including the hotel and restaurant industry and foreign demand, KOF said.

Indicators relating to the manufacturing sector and private consumption supported the positive signal, while it saw slightly negative signals in the construction industry. (Reporting by Michael Shields Editing by Gareth Jones)

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