Swiss economic outlook is improving, says thinktank
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Swiss economic outlook is improving, says thinktank
Switzerland's economic outlook continued to improve in October, according to the KOF Institute's Economic Barometer. While expectations are improving overall, there are divergences between sectors.
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After falling in August as a result of the introduction of 39% tariffs on Swiss imports into the United States, the KOF barometer rose again in September and October. During the month under review, this leading indicator of the economic outlook stood at 101.3 points, up 3.3 points on the previous month.
It thus exceeds the forecasts of economists polled by AWP, who had put a ceiling of 99.0 points on the indicator.
Overall, “the outlook for the Swiss economy is improving”, noted the KOF experts. While manufacturing, the financial sector, insurers and the service sector are all showing improved expectations, consumer demand seems to be marking time.
+ Swiss economic sentiment improves but remains subdued
Another barometer of the Swiss economy, the one published by Swiss bank UBS and the CFA Institute, had also reported a marked rebound, with the risks having diminished, particularly in terms of exports. This index rebounded by 38.7 points, to stand at -7.7 points in October, after two months of strong negativity. This recovery is one of the strongest in the history of this indicator, according to the authors of the study, just after those seen during the 2008 financial crisis and the Covid pandemic.
Translated from German by DeepL/jdp
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