The reading of the KOF Economic Barometer dropped drastically in March and is now with 92.9 well below its long-term average. Accordingly, the Swiss economy can be expected to see a marked decline in growth rates in the near future. This plunge of the Barometer reflects the first economic consequences of the accelerated spread of the Coronavirus.
The KOF Economic Barometer fell by 8.9 points in March, from 101.8 (revised from 100.9) down to 92.9. The Barometer thus plunged from its long-term average about as low as after the minimum exchange rate for the Swiss franc was abandoned in January 2015. Its troughs at the time of the economic crisis in 2008/9 were still significantly lower, but a large part of the survey responses underlying the Barometer were
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