Switzerland Economic Sentiment


Switzerland: Economic barometer records a small decrease in September

September 30, 2014

The KOF economic barometer—a leading indicator for future GDP growth—inched down from a revised 99.6 points in August (previously reported: 99.5 points) to 99.1 points in September. The reading slightly overshot the 99.0 points the markets had expected. As a result, the economic barometer sits for the third consecutive month below its long-term average of 100 points. Despite September’s drop, in its accompanying statement, the KOF Institute noted that “perspectives for the Swiss economy remain relatively stable.”

September’s result was driven by a drop in the indicators for the international environment as well as consumption-related indicators. In addition, the construction-related indicators performed slightly worse compared to the previous month. On the other hand, positive impulses came from manufacturing, especially from indicators related to intermediate products.

The State Secretariat for Economic Affairs (SECO) expects GDP to expand 2.0% in 2014. For 2015, SECO expects the economy to grow 2.6%. Meanwhile, the Swiss National Bank expects economic growth of around 2.0% in 2014. FocusEconomics Consensus Forecast panelists expect GDP to expand 2.0% in 2014, which is unchanged from last month’s projection. For 2014, the panel expects economic growth to accelerate slightly to 2.1%.

Author:, Senior Economist

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Switzerland Economic Sentiment Chart

Switzerland Economic Sentiment September 2014

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

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