Switzerland Economic Sentiment

Switzerland

Switzerland: Leading economic indicator rises in October

October 30, 2014

The KOF economic barometer—a leading indicator for future economic activity growth—inched up from a revised 99.3 points in September (previously reported: 99.1 points) to 99.8 in October. The reading overshot the 99.2 points the markets had expected. October’s result meant that the economic barometer is gradually approaching its long-term average of 100 points. In its accompanying statement, the KOF Institute recognized that, “with a reading close to the long-term average, the perspectives for the Swiss economy are friendly, but unexciting.”

The advance in October was the result of improvements in the financial sector, along with increases in indicators related to consumption and construction. Conversely, October’s survey showed negative developments in the manufacturing and hospitality sectors, as well as in indicators related to the international environment.

The State Secretariat for Economic Affairs (SECO) expects GDP to expand 1.8% in 2014. For 2015, SECO expects the economy to grow 2.4%. Meanwhile, the Swiss National Bank expects economic growth of around 1.5% in 2014. FocusEconomics Consensus Forecast panelists expect GDP to expand 2.0% in 2014, which is unchanged from last month’s projection. For 2014, the panel expects economic growth to accelerate slightly to 2.1%.


Author:, Senior Economist

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Switzerland Economic Sentiment Chart


Switzerland Economic Sentiment October 2014

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


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