KOF Economic Barometer declines but remains above its medium-term average

The KOF Economic Barometer decreases by 1.3 points to 101.7 in February (after revised 103 in January). Except for the construction industry, all production-side indicator bundles included in the KOF Economic Barometer are under pressure, with the indicator bundles for manufacturing and other services weakening in particular. However, the demand-side indicator bundles for foreign demand and private consumption are able to slightly cushion the negative developments.

In the producing industry (manufacturing and construction), the sub-indicators for stockpiling of intermediate products and for the general business situation show negative developments. The sub-indicators for production activity, for the assessment of production barriers, and for profits are slowing down slightly. Positive developments are signaled by the sub-indicators for order backlogs, for the competitive situation, as well as for exports.

Within the manufacturing industry, particularly the paper and printing industry, the chemical and pharmaceutical industry, the wood, glass, stone and earth segment, as well as machinery and equipment manufacturing all experience a setback. A more favourable outlook, however, is shown by both the electrical industry and the metal industry.