KOF Economic Barometer: Economic outlook slightly gloomier

The KOF Economic Barometer declines 2.8 points in April to an index level of 96.4. In the previous month, the barometer stood at 99.2 points (revised from 98.2). The majority of the indicator bundles are affected by the softening. In particular, the indicators for manufacturing, services, hospitality and private consumption. In contrast, the outlook for foreign demand is stable and that for financial and insurance services is brightening.

In the producing sector (manufacturing and construction), it is primarily the indicators for capacity utilisation, the order situation, production, and inventories that are dampening the development. In contrast, the indicators for profit development tend to signal an easing of the situation.

Within manufacturing, the outlook is less favourable than before for the chemical and pharmaceutical industries, for textile and clothing manufacturers and for the wood and paper producers. The indicator values for machinery and equipment manufacturing, food and beverage producers and for the metal industry are almost stable. The tendency of the indicators in the electrical industry is upward.