November

The KOF Economic Barometer moves one step further towards its long-term average shortly before the end of the year. The high-flying of the barometer, which was observed in the middle of the year, is being cushioned by a further corrective movement. However, the barometer remains above its long-term average. The prospects for the Swiss economy remain positive, given that economic activity is not impaired by a recurring spread of the virus.

Healthcare expenditure will increase by 7.3 per cent this year owing to the pandemic. The growth rate will then fall significantly to 1.3 per cent in 2022 and 1.2 per cent in 2023. These are the key findings of the KOF Healthcare Expenditure Forecast, which was prepared with the help of a research contribution from comparis.ch.

The Global Economic Barometers declined once again in November, continuing the weakening that started in the third quarter. Despite falling in all regions, the Coincident Barometer remains above 100 points. However, the Leading Barometer remains below 100 for a second consecutive month, albeit with a less pronounced decline in November.

Swiss companies’ business situation continues to improve, according to the KOF Business Tendency Surveys for October. The gap that had widened between sectors as a result of the pandemic is closing to some extent. In addition to problems with supplies of intermediate products, however, many sectors are complaining about a shortage of skilled workers.

The KOF Employment Indicator continues to rise and is at its highest level since 2008. The renewed increase is mainly due to the larger number of companies that consider their current staffing levels to be too low. The labour market situation in the hospitality industry has improved particularly strongly.