06

In June, the KOF Economic Barometer stands at 90.8 points. The outlook for the Swiss economy thus remains at a below-average level for the second half of the year.

The KOF MPC figure for 15 June 2023 is 0.06. At today’s meeting, the ECB’s Governing Council communicated that inflation has been coming down but is projected to remain too high for too long.

The Swiss economy is currently stable. However, the subdued performance of the global economy is also making economic activity in Switzerland more sluggish. The labour market, on the other hand, is in very good shape. Private consumption is also boosting economic activity. Gross domestic product (GDP) adjusted for sporting events will increase by 1.2 per cent this year and by 1.7 per cent next year.

After two months of relative stability, the Global Barometers weakened in June, reflecting the challenging recovery of the world economic activity in 2023. The decline was influenced by the deterioration of the economic environment in the Asia, Pacific & Africa region and in Europe.

KOF and the Neue Zürcher Zeitung (NZZ) newspaper have surveyed economists at Swiss universities on the upcoming vote on the Climate Change Act and other topical economic policy issues relating to climate change. There is disagreement among survey respondents as to whether the measures contained in the counter-proposal are sufficient to achieve the goal of net-zero emissions by 2050.