KOF Economic Barometer: Economic outlook more favourable again

The KOF Economic Barometer climbs by 2.5 points to 101.7 in April (from a revised 99.2 in March). After decreasing below the long-term average of 100 in March for the first time since January 2021, the KOF Economic Barometer is now slightly above this mark again. Overall, the outlook for the Swiss economy is therefore rather favourable in the short term.

The accommodation and food service activities and the other services sector are responsible for the rise in the KOF Economic Barometer. The indicators for foreign demand, on the other hand, are currently the strongest drag. This contrast highlights the tension between Corona easing and international burdens, especially the Ukraine war. The other indicator bundles – for consumption, manufacturing, construction and financial and insurance services – are moving slightly downwards.

In the goods producing sector (manufacturing and construction), the indicators for the general business situation, export prospects, the intermediate product situation and profit development are weakening.

Within manufacturing, the outlook for food and beverage producers, the metal industries, manufactures of machinery and equipment and other manufacturers is clouding over. The manufacturers of textiles and clothing, wood and paper products, chemicals and pharmaceuticals, as well as the electronics producers, are combating the negative tendency.