Switzerland: KOF Economic Barometer hits all-time high in May
The KOF Economic Barometer jumped to 143.2 in May from April’s 136.4. May’s result marked the best reading on record. As such, the index moved further above the 100-point threshold corresponding to the series’ long-run average, and points to a very positive near-term outlook for the Swiss economy.
May’s jump was driven by positive signs regarding the manufacturing sector, foreign demand, and the accommodation and food services sector, likely supported by the easing of lockdown restrictions and the vaccine rollout.