Press Releases

The KOF Business Situation Indicator for the Swiss economy, which is calculated from the KOF Business Tendency Surveys, fell in April. It had hardly moved in the previous month. Performance varied from sector to sector. Although the Swiss economy is faltering slightly, there are also positive signals. Supply chain problems, for example, have largely dissipated and the upward pressure on prices is decreasing.

The KOF Business Situation Indicator for the Swiss private sector, which is calculated from the KOF Business Tendency Surveys, rose significantly in January. While firms’ business had deteriorated in the autumn, a clearly positive trend was visible in January. The operating outlook for the coming months is more encouraging than before.

The Swiss economy’s recovery is continuing despite the omicron wave at the beginning of the new year. This is demonstrated by the KOF Business Tendency Surveys for January. Although many employees are currently having to quarantine or self-isolate, a specially included KOF question reveals that the loss of sales due to staff absences is limited. The availability of intermediate products, on the other hand, remains a problem.

Having risen at the end of 2020, the KOF Business Situation Indicator fell in January. The second wave of the pandemic is clearly acting as a drag on some sectors. The proportion of companies that consider their survival to be at risk increases strongly in the hospitality sector. More than half of businesses in the hospitality industry are worried about possible bankruptcy. KOF expects to see a GDP growth of 2.1 per cent this year but no return to pre-crisis levels until the end of 2021.

The KOF Business Situation Indicator rose significantly in October. When asked about the level of demand going forward, however, some sectors became more cautious over the course of the month. Specific questions on the COVID-19 pandemic reveal that currently around 10 per cent of the businesses surveyed fear for their survival. In the hospitality industry this figure is as high as one in three firms. More than 60 per cent of companies are suffering from weaker demand.

The business situation in most sectors has improved slightly. This is shown by the KOF Business Situation Indicator, which has risen significantly for the first time since April. However, the situation remains challenging. 14 per cent of companies believe that their survival is at risk. In terms of economic performance, KOF expects GDP to decline by 4.9 per cent this year. If a second wave of COVID-19 were to occur, GDP would be expected to fall by 6 per cent this year.

The KOF Business Situation Indicator fell extraordinarily sharply in April. In the face of the COVID-19 pandemic, companies reckon that their business is faring even worse than during the 2009 financial crisis, and they expect this situation to deteriorate further in the coming months. The coronavirus continues to have the economy firmly in its grip.

The business situation of Swiss companies improved slightly in January. In the manufacturing sector the indicator did not fall any further after 13 consecutive declines. Five years after the Swiss franc’s exchange-rate floor was abolished, however, companies in this sector are still complaining about poorer competitiveness in the euro area. These were the findings of a special survey on Swiss monetary policy. Assessments of negative interest rates reveal considerable differences between sectors.

The Business Situation Indicator recorded another decline in October, having previously remained practically unchanged over the summer months (see G 1). The business situation is currently significantly less positive than it was last autumn, and has been worsening for several months, in particular in the manufacturing sector. The global economic slowdown is increasingly having knock-on effects on Switzerland.  

Swiss companies’ business situation did not change in July compared with the previous month. Having fallen seven times in succession, the Business Situation Indicator now remains at the prior month’s level. Although the Swiss economy is no longer on a downward trajectory, the economic environment remains challenging.

The KOF Business Situation Indicator has started the new year in negative territory, falling for the second consecutive month. Firms’ expectations about their business going forward are less optimistic than they were. Nonetheless, they are predominantly confident about their future operating performance. Although the Swiss economy therefore remains in good shape at the beginning of 2019, companies are facing increasingly strong headwinds

The KOF business situation is barely any different in October compared to the previous month. This means that the business situation of Swiss companies has not changed significantly since July of this year. Optimism on the part of companies regarding future business trends has fallen back slightly. The Swiss economy is continuing to ride high, although with slightly less of a tail wind.

The KOF Business Situation Indicator rose once again in July and more than made up the slight decline of the preceding month. The Indicator thus reverted to the upward trend it embarked on in spring 2016. Nevertheless, the companies’ business expectations are no longer quite as positive as they were in the first half of the year. The Swiss economy is enjoying a summer boom with just a few clouds on the horizon.

The KOF Business Situation Indicator edged back up in April after having dipped slightly in the previous month. Overall, therefore, the Indicator has stabilised around the highest level it has reached since 2014. The Swiss economy’s upward trajectory is intact.

The KOF Business Situation Indicator rose further in January, continuing on its upward trajectory after a brief pause last autumn. The companies that took part in the KOF survey are confident regarding business development over the next six months. All in all, Swiss companies are getting off to a strong start in 2018.