Switzerland: KOF Economic Barometer falls to over two-year low in August
August 31, 2022
The KOF Economic Barometer fell to 86.5 in August from July's 90.5. August's result marked the worst reading since July 2020, and was the fourth consecutive monthly decline. Consequently, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the Swiss economy.
August’s drop was due to more negative signals regarding private consumption, manufacturing and construction. Problems in manufacturing and construction were largely the result of supply bottlenecks and difficulties hiring suitable workers.
Author: Oliver Reynolds, Economist