Switzerland Economic Sentiment February 2018

Switzerland

Switzerland: Economic sentiment stabilizes in February following January's banking sector-related dive

February 28, 2018

In February, the KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—rose by 0.4 points, to 108.0 from a revised 107.6 in January (previously reported: 106.9). February’s result reversed January’s sharp decline, beating analysts’ expectations of a further decline to 106.0 points. Moreover, February’s reading landed above the 100-point threshold, signaling continued economic expansion above the series’ long-run average.

February’s improvement, according to the KOF Swiss Economic Institute, was due largely to strong positive contributions from the construction and hospitality sectors. Notably, the banking sector showed no improvement following an acute weakening in January. Moreover, manufacturing experienced mixed results; electrical and paper industries noted improvement, while sentiment in mechanical engineering deteriorated. On a bright note, private consumption metrics improved in the month.

The State Secretariat for Economic Affairs (SECO) expects GDP growth to reach 2.3% in 2018 before easing to 1.9% in 2019. FocusEconomics Consensus Forecast panelists expect GDP growth to clock in at 1.9% in 2018, which is unchanged from last month’s forecast. For 2019, the panel expects GDP growth to moderate to 1.7%.


Author:, Economist

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Switzerland Economic Sentiment Chart


Switzerland Economic Sentiment February 2018

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


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