KOF Economic Barometer: Outlook brightens
The KOF Economic Barometer increased significantly in December and now stands at 92.2 points. This is the first time the barometer has risen after a prolonged downturn. The outlook for the Swiss economy is thus brightening slightly for the beginning of 2023, although remaining at a low level.
In December, the Economic Barometer stands at 92.2 points, 3 points higher than in November (revised from 89.5 to 89.2 points). The comparatively strong upward movement of the barometer is primarily driven by bundles of indicators from the manufacturing sector and the other services sector. Indicators covering financial and insurance services as well as accommodation and food service activities also send a positive signal.
The picture in the goods producing sector (manufacturing and construction) is predominantly positive. The strongest positive drivers are indicators assessing the employment outlook and the business situation. Indicators assessing production capacities and the competitive situation also make a positive contribution. Indicators assessing the situation in production, however, send a very negative signal.
In the manufacturing sector, indicators for the wood and paper products sector as well as for the metal industry send the strongest positive signal. Indicators for the electrical industry as well as the chemical and pharmaceutical industry also send a positive signal. By contrast, indicators covering the paper and printing sector send a strong negative signal.
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