KOF Economic Barometer: Further slight recovery
The KOF Economic Barometer rose moderately again in December and now stands at 97.8 points. It is thus once again moving one step closer to its long-term average. The movements at below-average levels that have been observed since the beginning of 2023 are thus continuing. The outlook for the Swiss economy for the start of 2024 therefore remains subdued despite a further improvement.
The KOF Economic Barometer stands at 97.8 points in December, 0.6 points higher than in November (revised from 96.7 to 97.2 points). The increase is primarily attributable to bundles of indicators in the manufacturing sector and indicators for private consumption. Bundles of indicators in the other sectors remained virtually constant compared to the previous month.
In the goods producing sector (manufacturing and construction), indicators relating to the production situation developed particularly positively in December. Indicators relating to the business situation and the inventory situation show a negative development. Indicator bundles covering the order backlog and the employment situation remain at an almost constant level.
Within the manufacturing sector, the indicators for the textile industry, mechanical engineering and the electrical industry are mainly responsible for the persistently negative assessment. The indicators for the paper and printing industry and the metal industry show a positive development.
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