Switzerland Economic Sentiment

Switzerland

Switzerland: Leading economic indicator improves in May

May 29, 2015

Switzerland’s KOF economic barometer—a composite leading indicator for the Swiss economy in the next six months—increased from the revised 89.8 points (previously reported: 89.5 points) in April to 93.1 points in May, thus hitting a four-month high. The result was up from the 90.0 points the markets had expected.

The KOF Swiss Economic Institute commented that the increase in the economic barometer in May is mainly driven by an improvement in the manufacturing activity, in particular in the metal and machine building industry. The institute added that, “positive but considerably lower contributions stem from the indicators related to domestic consumption and construction. No significant signals come from the financial and hospitality sector.”

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 May 2015

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


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