Switzerland Economic Sentiment

Switzerland

Switzerland: Leading economic indicator inches down in September

September 30, 2015

Switzerland’s KOF economic barometer—a composite leading indicator for the Swiss economy in the next six months—decreased from 101.2 points in August to 100.4 points in September. August’s reading had marked the highest level since April 2014.

The KOF Swiss Economic Institute commented that the decrease in the economic barometer in September was mainly driven by negative developments in the manufacturing and construction sectors. More specifically, within the manufacturing sector, negative tendencies were observed in the chemical, food and wood processing as well as in the textiles sub-sectors. On the contrary, positive developments were recorded in the indicators related to the assessment of inventories.

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 September 2015

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


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