KOF Economic Barometer continues to rise in September
Published: Monday, Sep 30th 2024, 09:20
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The economic outlook for Switzerland brightened slightly again in September. The KOF Barometer rose by 0.5 points to 105.5 points in September, as reported by the KOF Swiss Economic Institute at ETH Zurich on Monday.
This puts the barometer well above analysts' expectations, which had forecast a value between 100.0 and 102.0 points. However, the previous month's value for August was also revised significantly upwards by 3.7 points by the economic researchers (VM 105.0 points).
The individual indicator bundles for the economic sectors almost all showed a more favorable outlook than before. The indicator for the manufacturing industry in particular is pointing clearly upwards. The increase in financial and insurance services, construction and other services was somewhat less marked. In the hospitality industry, the rather above-average outlook remained virtually unchanged, the report continues.
On the demand side, the indicators for consumer demand continue to point to a rather above-average development. On the other hand, there is a decline in future foreign demand.
In the manufacturing industry, the indicators for the general business situation, export prospects and intermediate input purchases had improved. In contrast, the indicators for production activity and employment trends pointed to a less favorable development than in the previous month.
In the manufacturing industry, the outlook brightened in the chemical and pharmaceutical sectors as well as in the metal industry. In contrast, the outlook for the electrical industry and the textile and clothing sector was gloomier.
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