KOF Swiss Leading Indicator - Economic Data Preview
The KOF Swiss Leading Indicator is expected to rebound to -1.75 in June from a record low at -1.86 recorded in April and May. The measure is a composite of six leading metrics from the industrial, retail and wholesale sectors and is designed to project the direction of economic growth in the coming six to nine months. The minor upswing implies that the economy will continue to shrink at least through 2009, albeit at a slightly slower pace. The Swiss National Bank has forecast that the economy could contract as much as 3% this year, the most since 1975.