Switzerland Economic Sentiment May 2018

Switzerland

Switzerland: Economic sentiment declines to over two-and-a-half year low in May

May 30, 2018

In May, the KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—dropped from a revised 103.3 points in April (previously reported: 105.3 points) to the series’ long-run average of 100 points in May. This marked the worst reading since December 2015.

May’s print largely reflected a negative contribution from the manufacturing and construction sectors, which more than offset an improvement in sentiment in accommodation and food service. The decline in sentiment in manufacturing and construction was largely driven by a deterioration in the employment component. According to the press release, May’s decline reflected “a normalization of economic development” after over two years of above-average prints.

FocusEconomics Consensus Forecast panelists expect GDP growth to clock in at 2.1% in 2018, which is up 0.2 percentage points from last month’s forecast. For 2019, the panel expects GDP growth to moderate to 1.8%.


Author: Jean-Philippe Pourcelot, Economist

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Switzerland Economic Sentiment Chart


Switzerland Economic Sentiment May 2018

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


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