FXstreet.com (Barcelona) - Swiss economy seems to have entered in a slight softening momentum, according to the latest KoF leading indicator , which has slipped to 1.70, after having been around a level of 2.0 for several months, according to data released by the KOF Institute.

January's 1.70 represents a decline from downwardly revised 1.84 in December, previously estimated 1.99 which might indicate an slight slow down for Swiss economic growth during the first half of 2008.

The Core GDP, one of the three modules of this composite gauge which comprises overall economy except construction and banking, , has started mild softening trend yet remaining in high levels, while the banking component has experienced a rather more serious correction. The construction has been declining for some time and is heading at the moment to the zero line.