Switzerland: KOF Economic Barometer deteriorates but remains elevated in July
July 30, 2021
The KOF Economic Barometer came in at 129.8 in July, down from June's 133.3. As a result, the index remained entrenched above the long-term average of 100, and still points to a very positive near-term outlook for the Swiss economy.
After surging through May as the economy reopened and pent-up demand was released, some normalization in the Barometer was always to be expected, with July’s dip driven by less positive signs regarding manufacturing, foreign demand, construction, financial services and private consumption.
Author: Oliver Reynolds, Economist