Switzerland Economic Sentiment

Switzerland

Switzerland: Economic barometer stabilizes in June

June 27, 2014

The KOF economic barometer—a leading indicator for future GDP growth—edged up from a revised 100.1 points in May (previously reported: 99.8 points) to 100.4 points in June. The reading was virtually in line with the 100.0 points the markets had expected and represented only a timid improvement after the index reached its lowest level in nearly two years. The economic barometer is still above its long-term average of 100 points and, according to the KOF Institute, the barometer, “continues to linger very close to its long-term average reading,” while it concluded that, “during the next months the Swiss economy can be expected to run unspectacularly.”

June’s slight improvement was mainly driven by positive developments in the Swiss manufacturing and banking sectors. Conversely, construction, restaurant and catering as well as the retail sector “hardly contributed”.

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 2.1% in 2014, which is unchanged from last month’s projection. For 2015, the panel expects economic growth to accelerate slightly to 2.2%.


Author:, Senior Economist

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Switzerland Economic Sentiment June 2014

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


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