Switzerland Economic Sentiment April 2016


Leading economic indicator reaches 12-month high in May

Switzerland’s KOF economic barometer—a composite leading indicator for the Swiss economy in the next six months—inched up from a revised 102.6 points in April (previously reported: 102.7 points) to 102.9 points in May. The indicator continued to hover above its long-term average, where it has been for the last three months.

The KOF Swiss Economic Institute commented that the positive result in the economic barometer in May was mainly attributed to positive signals in the manufacturing, financial and export sectors. Indicators related to private consumption, however, show a negative dynamic. Conversely, negative developments were seen in the construction sector. The optimistic sentiment in manufacturing is mainly driven by an improvement in the outlook for the machinery, metal and paper industry, whereas electronic and chemical industries were more pessimistic this month. Overall, the Swiss economy is expected to maintain a favorable growth trajectory.

The State Secretariat for Economic Affairs (SECO) expects GDP to expand 1.4% in 2016 and 1.8% in 2017. FocusEconomics Consensus Forecast panelists expect GDP to expand 1.2% in 2016, which is unchanged from last month’s projection. For 2017, the panel expects economic growth to accelerate to 1.6%.

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Switzerland Economic Sentiment Chart

Switzerland Economic Sentiment May 2016

Note: KOF Economic Barometer Indicator.
Source: KOF Swiss Economic Institute.

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