KOF Economic Barometer: Stagnation at a Low Level
The KOF Economic Barometer remains virtually unchanged in June compared to the previous month. It now stands at 93.6 points, 0.2 points lower than in May (revised from 94.4 to 93.8 points). The downward tendency that has been present since the beginning of the year is now flattening out. The economic outlook for Switzerland remains dampened in the middle of 2019.
The almost unchanged level of the KOF economic barometer in June is primarily due to balancing tendencies in foreign demand, the goods producing sector (manufacturing and construction) and private consumption. While indicators show a positive tendency with regard to foreign demand, the joint indicators of the goods producing sector and private consumption point in the opposite direction with almost equal magnitude. In addition, there is a slight slowdown in the banking and insurance sector.
In the goods producing sector, indicators on the situation of intermediate products and on order backlogs are primarily responsible for the negative development of this sector. The assessment of the competitive position, employment situation and export prospects remains unchanged.
A mixed, but mostly slightly clouded picture can be observed within the manufacturing industry. Indicators in the metal sector, as well as in the machine and vehicle production, point in a positive direction, while indicators in the chemical industry, the electrical industry and the food and beverages production indicate a negative development.
Contact
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Switzerland