Switzerland Economic Sentiment

Switzerland

Switzerland: Leading economic indicator drops to lowest level in nearly four years

June 30, 2015

Switzerland’s KOF economic barometer—a composite leading indicator for the Swiss economy in the next six months—decreased from the revised 92.7 points (previously reported: 93.1 points) in May to 89.7 points in June, thus hitting the lowest level since December 2011.

The KOF Swiss Economic Institute commented that the decrease in the economic barometer in June is mainly driven by a deterioration in the industrial sector, in particular the metal and wood sub-categories. In addition, the financial sector was a drag on sentiment in June. The institute added that, “the construction industry, however, seems to recover somewhat; in particular indicators related to the architectural business contribute positively to the overall indicator.”

The State Secretariat for Economic Affairs (SECO) expects GDP to expand 2.1% in 2015. For 2016, SECO sees economic activity strengthening and expects GDP to expand 2.4%. Meanwhile, the Swiss National Bank expects economic growth of around 2.0% in 2015. FocusEconomics Consensus Forecast panelists expect GDP to expand 1.1% in 2015, which is down 0.7 percentage points from last month’s projection. For 2016, the panel expects economic growth to accelerate slightly to 1.4%.


Author:, Senior Economist

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Switzerland Economic Sentiment Chart


Switzerland Economic Sentiment June 2015

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


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