Switzerland Economic Sentiment October 2020

Switzerland

Switzerland: KOF economic barometer pulls back in October

October 30, 2020

The KOF economic barometer—a leading composite indicator for the Swiss economy—fell from 110.1 in September to 106.6 in October, putting an end to four consecutive monthly improvements. However, the index was still above the long-term average of 100.

October’s decline was driven by more negative signs regarding the hospitality sector, manufacturing and foreign demand, likely due to the second wave of Covid-19 cases at home and abroad. In contrast, indicators relating to private consumption and constructions were fairly stable. Looking ahead, tighter domestic restrictions could weigh on the index in the near term.

FocusEconomics Consensus Forecast panelists expect the economy to expand 4.0% in 2021, which is down 0.3 percentage points from last month’s forecast. In 2022, the panel expects GDP to expand 2.6%.


Author:, Economist

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Switzerland Economic Sentiment October 20 20

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


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