KOF Economic Barometer: As high as last in summer 2010

In March, the KOF Economic Barometer rose to 117.8 points, which is markedly above its long-term average of 100. The increase over the previous month is 15.2 points (from 102.6 points, revised from 102.7). This is largely due to the indicators from the Swiss manufacturing industry. The other groups of indicators, both for domestic and foreign demand, all signal a positive development, albeit significantly weaker. (Notice that most data reflected by this release of the Barometer are based on assessments made before the decisions taken by the Swiss Federal Council on 19 March.)

In the goods producing sector (manufacturing and construction), the order backlog is particularly assessed as improved, followed by production and the competitiveness situation. The assessment of firms’ inventories, on the other hand, has become slightly less favourable.

In the manufacturing sector, all sectors reflected in the Barometer indicate an improvement compared to the previous month. This is particularly pronounced in the metal industry, followed by the textile and chemical industries and then by mechanical engineering and the paper industry.