Forecasts & Indicators
The KOF regularly publishes various indicators and forecasts. These are partly based on the results of the KOF economic surveys among Swiss companies as well as external data.
News about Forecasts and Indicators:
Business situation easing slightly
Business activity at Swiss firms is currently slightly stronger than it was at the beginning of the year and in July 2024. This is shown by the KOF Business Situation Indicator, which rose for the third month in a row. However, the outlook for the next six months is somewhat gloomier – mainly owing to subdued expectations in the manufacturing and wholesale sectors. This is revealed by the results of the KOF Business Tendency Surveys of nearly 7,000 firms across the private sector.
KOF Employment Indicator: downward trend continues
The Swiss labour market continues to lose momentum. The KOF Employment Indicator has continued to fall in the third quarter of 2025 and, at 0.3 points, is now only just in positive territory. There is therefore no sign of a rapid upturn in the labour market. The overall indicator is particularly adversely affected by the subdued employment outlook in the manufacturing sector, the wholesale and retail trade and the hospitality industry.
KOF Monetary Policy Communicator for the Euro Area, July 2025
The KOF MPC figure for 24 July 2025 is 0. At today’s meeting, the ECB’s Governing Council decided to keep the three key ECB interest rates unchanged.
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