The Swiss Economic Institute KOF released its leading indicator for Switzerland on Monday. The KOF leading indicator declined to 97.9 in November from 100.4 in October, missing expectations for a fall to 100.2. October's figure was revised up from 99.8.

"The decrease of the Barometer in November is predominantly driven by a marked deterioration of sentiment reflected by the indicators on Swiss manufacturing activity. Another negative, but considerably less pronounced, contribution stems from the indicators related to exports," the KOF said.