Switzerland Economic Sentiment June 2020

Switzerland

Switzerland: Economic sentiment picks up in June

June 30, 2020

The KOF economic barometer—a leading composite indicator for the Swiss economy—rose to 59.4 points in June from the record low of 46.6 recorded in May. However, the indicator remained well below its long-term average indicating that the outlook for the Swiss economy remains subdued.

The uptick in sentiment was broad based, with indicators for the manufacturing, services and construction sectors all improving in June. However, prospects for the hospitality industry and private consumption remain bleak due to the ongoing 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 5.0%.


Author:, Economist

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Switzerland Economic Sentiment Chart


Switzerland Economic Sentiment June 20 20

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


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