Switzerland Economic Sentiment May 2020

Switzerland

Switzerland: KOF economic barometer hits historic low in May

May 29, 2020

OF economic barometer—a leading composite indicator for the Swiss economy— fell to 53.2 points in May from a revised 59.7 in April (previously reported: 63.5 points). As such, the indicator fell to a fresh record low in May, slipping below the level hit during the Great Financial Crisis and suggesting the economy is in an unprecedented recession.

The continued deterioration was led by declines in the indicators for the manufacturing sector and foreign demand. However, indicators for private consumption and construction improved slightly this month, thus softening the overall rate of decline in May.

FocusEconomics Consensus Forecast panelists project GDP to contract 5.2% in 2020, which is down 2.9 percentage points from the prior month’s forecast. For 2021, the panel foresee GDP growth of 4.8%.


Author:, Economist

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Switzerland Economic Sentiment May 20 20 4

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


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