2024

The KOF Economic Barometer rises a little in June and remains in a slightly above-average range, as it has been since the beginning of the year. The Swiss economy should continue to recover little by little over the coming months.

KOF is forecasting an increase of 1.2 per cent in real sport-adjusted gross domestic product (GDP) for the current year (1.6 per cent including sporting events). Sport-adjusted growth of 1.8 per cent is expected for 2025 (1.4 per cent including sporting events). KOF’s economic outlook is therefore virtually unchanged compared with its spring forecast.

The Leading Global Barometer rises for the third consecutive month in June, but it has not yet fully recovered from the losses of February and March. The Coincident Barometer remains relatively stable for the fourth month in a row.

The KOF MPC figure for 6 June 2024 is 0. At today’s meeting, the ECB’s Governing Council decided to lower the three key ECB interest rates by 25 basis points.

The KOF Economic Barometer falls again in May after a rise in the previous month. This year it has only managed to stay very slightly above its medium-term average. Although the Swiss economy is robust, it is not showing much vigour beyond that.

KOF and the Neue Zürcher Zeitung (NZZ) newspaper surveyed economists at Swiss universities about the upcoming vote on the Swiss healthcare system on 9 June this year and received 113 responses. Two-thirds of survey respondents rejected the premium-reduction initiative. Although economists were less unanimous on the cost-capping initiative, a small majority rejected this as well.