KOF Economic Barometer: Sluggish economic recovery

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The KOF Economic Barometer loses 5.0 points in October, falling to a level of 99.5 (after a revised 104.5 in September). The indicator bundles of all production-side categories included in the barometer decline in October: the indicators for manufacturing, financial and insurance services, other services, hospitality and construction. However, the demand-side indicators, the indicators for foreign demand and consumer demand, are not following this downward tendency. The development of the demand-side indicators, though, does not currently give hope for stronger impetus.

In the producing industries (manufacturing and construction), the indicators for almost all aspects of business activity are under pressure. This applies in particular to export prospects, production activity, the competitive situation and order income. Only the indicators for the purchase of primary products and the inventory situation cushioned the negative development somewhat.

Within the manufacturing, the outlook is becoming bleaker, particularly for chemical and pharmaceutical companies, the metal industry, the wood, glass, stone and earth segment and for food and beverage producers. The outlook is slightly more favourable for textile and clothing companies.