KOF Economic Barometer: Weakening continues
In August, the KOF Economic Barometer fell from its all-time high in May for the third time in a row and now stands at 113.5 points. However, this is still significantly higher than the long-term average. Accordingly, in the coming months the economic recovery from the consequences of the pandemic is expected to continue.
The KOF Economic Barometer fell by 17.4 points in August, from 130.9 (revised from 129.8) to 113.5 points. However, it is still pointing well above its average value of 100. All indicator groups except those from the construction industry contributed to this decline. The fourth wave of the pandemic, which is now becoming increasingly clear, is apparently fuelling doubts about largely unhindered economic activity in the near future.
In the goods producing sector (manufacturing and construction), the order backlog in particular is assessed as less positive, followed by earnings, employment, and production. The export prospects are assessed somewhat more favourably.
In the manufacturing sector, all sectors reflected in the Barometer, with the exception of the chemical and wood industries, signal a decline compared to the previous month. This is particularly pronounced in the metal industry, followed by the paper and electrical industries.
Data and Graphs
The full press release can be found Downloadhere (PDF, 884 KB).
Detailed information regarding the KOF Economic Barometer can be found here.
Contact
KOF Konjunkturforschungsstelle
Leonhardstrasse 21
8092
Zürich
Switzerland