KOF Economic Barometer: Stabilization above the average

The KOF Economic Barometer falls slightly in March and now stands at 101.5 points. The Barometer had recorded repeated increases since mid 2023 and is now stabilizing above its long-term average. The outlook for the Swiss economy therefore remains positive.

The KOF Economic Barometer stands at 101.5 points in March, 0.5 points lower than in February (revised from 101.6 to 102.0 points). The decline is primarily due to indicator bundles of the construction sector and indicator bundles capturing private consumption. However, indicators for the finance and insurance sector are sending slightly positive signals.

In the goods producing sector (manufacturing and construction), indicators for the assessment of employment prospects and for order backlogs decline in particular. In contrast, a strong positive signal is sent by indicator bundles covering the situation for intermediate goods.

Within the manufacturing industry, indicators for the textile industry, the metal industry and the wood, glass, stone and earth sector are mainly responsible for its positive development. By contrast, indicators for the vehicle and mechanical engineering sector are sending a slightly negative signal.

Enlarged view: Development of the barometer in the last 12 months (Current value and previous month's value): Mar 2023: 100.5, 100.5; Apr 2023: 97.9, 97.9; May 2023: 95.6, 95.7; Jun 2023: 94.1, 94.3; Jul 2023: 96.3, 96.2; Aug 2023: 95.6, 95.2; Sep 2023: 96.2, 96.0; Oct 2023: 95.1, 95.0; Nov 2023: 96.8, 97.0; Dec 2023: 7.6, 7.9; Jan 2024: 102.6, 102.5; Feb 2024: 102.0, 101.6: Mar 2024: 101.5

Contact

Dr. Philipp F. M. Baumann
  • LEE F 204
  • +41 44 633 87 35

KOF FB Data Science und Makroök.
Leonhardstrasse 21
8092 Zürich
Switzerland

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