June

At mid-year, the KOF Economic Barometer moves a step towards its long-term average. The strong rise of the barometer across the last months is now replaced by a corrective movement. The barometer still lies well above its long-term average. The prospects for the Swiss economy remains very positive, provided that the economy is not severely affected by a renewed spread of the virus.

The recovery has arrived - faster and stronger than previously expected. According to KOF’s economic forecast, gross domestic product will rise by 4 per cent this year. KOF expects to see growth of 2.8 per cent for 2022. Switzerland's economic output should already exceed its pre-crisis level in the current quarter thanks to strong growth in value added.

The KOF MPC figure for 10 June 2021 is -0.34. At today’s meeting, the ECB’s Governing Council has confirmed the need for a very accommodative monetary policy.

The Coincident Global Barometer keeps the upward tendency and reaches its highest historical level in June. Moving in the opposite direction the Leading Barometer decreases, but after having risen markedly in the three previous months.