Switzerland Economic Sentiment


Switzerland: Leading economic indicator hits seven-month low in November on disappointing developments in manufacturing

November 30, 2015

Switzerland’s KOF economic barometer—a composite leading indicator for the Swiss economy in the next six months—dropped from 100.4 points in October to 97.9 points in November. The figure marked the lowest level in seven months.

The KOF Swiss Economic Institute commented that the decrease in the economic barometer in November was mainly driven by negative developments in the manufacturing sector. Within the manufacturing sector, negative tendencies were observed in the metal and electrical industries. On the contrary, positive developments were recorded in the construction sector.

The State Secretariat for Economic Affairs (SECO) expects GDP to expand 0.9% in 2015. For 2016, SECO sees economic activity strengthening and expects GDP to expand 1.5%. Meanwhile, the Swiss National Bank expects economic growth of below 1.0% in 2015. FocusEconomics Consensus Forecast panelists expect GDP to expand 0.9% in 2015, which is unchanged from last month’s projection. For 2016, the panel expects economic growth to accelerate to 1.3%, which is also unchanged from last month’s estimate.

Author:, Senior Economist

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Switzerland Economic Sentiment Chart

Switzerland Economic Sentiment November 2015

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

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