Switzerland Economic Sentiment July 2020

Switzerland

Switzerland: Economic sentiment improves in July, remains pessimistic

July 30, 2020

The KOF economic barometer—a leading composite indicator for the Swiss economy—rose to 85.7 in July from June's 60.6, the strongest monthly increase in the indicator’s history. However, the index remained below the 100-point threshold, indicating that the outlook for the Swiss economy remains subdued.

July’s positive move was driven by improved readings for manufacturing, services, consumption and construction activities. Less positively, the prospects for the accommodation and food service industries remained bleak, amid the prolonged effects of the coronavirus pandemic.

FocusEconomics Consensus Forecast panelists project GDP to contract 6.1% in 2020, which is unchanged from the prior month’s forecast. For 2021, the panel foresee GDP growth of 4.8%.


Author:, Economist

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Switzerland Economic Sentiment Chart


Switzerland Economic Sentiment July 20 20

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


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