Switzerland continues to suffer with the fragile state of the global recovery, the debt crisis denting demand from a major trading partner, the euro zone, and a strong franc that is adding downside pressure on the outlook. Nevertheless, conditions remain stable and even expectations are rising the SNB will soon extend the monetary tightening

The KOF Leading Indicators in May was steady at 2.30 in line with the revised previous from 2.29 and better than the expected drop to 2.22.