Switzerland Economic Sentiment

Switzerland

Switzerland: Leading economic indicator reaches 16-month high in August

August 31, 2015

Switzerland’s KOF economic barometer—a composite leading indicator for the Swiss economy in the next six months—increased from 100.4 points in July to 100.7 points in August, thus reaching the highest level since April 2014.

The KOF Swiss Economic Institute commented that the increase in the economic barometer in August is mainly driven by an improvement in the manufacturing sector, in particular in the metal and textile sub-sectors. In addition, the financial sector improved over the previous month. On the contrary, the primary and the construction sectors recorded deteriorations over July.

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 August 2015

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


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