Switzerland Economic Sentiment July 2017

Switzerland

Switzerland: KOF economic barometer signals more optimistic prospects for the Swiss economy

July 28, 2017

The KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—made further gains in July. The index rose up to 106.8 in July from a revised 105.8 in June (previously reported: +105.5), climbing further above the 100-point threshold, which indicates the series’ long-run average and signaling a more favorable outlook for the Swiss economy.

According to the KOF Swiss Economic Institute, the improvement was spurred by a more optimistic outlook for the tourism and export development sectors. Manufacturing businesses also held a more favorable assessment of their overall competitive position, with a brighter outlook for the textile sector and machine manufacturers. This offset the negative impacts emanating from deteriorating prospects for the metal, wood processing and food industries.

The State Secretariat for Economic Affairs (SECO) expects GDP to expand 1.4% in 2017 and 1.9% in 2018. FocusEconomics Consensus Forecast panelists expect GDP to expand 1.4% in 2017, which is unchanged from last month’s projection. For 2018, the panel expects economic growth at 1.7%.

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Switzerland Economic Sentiment Chart


Switzerland Economic Sentiment July 2017

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


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