09
KOF Economic Forecast, autumn 2024: Lack of recovery in Europe clouds prospects for the Swiss economy
The economic recovery in Switzerland and internationally is sluggish. The KOF expects real sports-adjusted gross domestic product (GDP) to increase by 1.1% in 2024. Weak investment is holding back growth, while the pharmaceutical industry is providing a boost. Sports-adjusted GDP will in-crease by 1.6% in 2025 and 1.7% in 2026. The main reason for the gloomy outlook is the economic weakness in Europe – for instance in Germany, Switzerland's most important trading partner.
KOF Monetary Policy Communicator for the Euro Area, September 2024
The KOF MPC figure for 12 September 2024 is 0.14. At today’s meeting, the ECB’s Governing Council decided to lower the three key ECB interest rates.
Global Barometers declining this month
The Global Barometers record a decline, but overall they are still in line with the tendency towards relative stability observed over the course of this year. The decline brings the Leading Barometer closer to the neutral level of 100 points, while the Coincident Barometer is moving away from this band.