KOF Economic Barometer: Economic outlook slightly gloomier
The KOF Business Cycle Barometer fell in April, dipping somewhat below its medium-term average. The Swiss economy cannot really get going at the moment.
The KOF Economic Barometer declined by 2.8 points in April to an index level of 96.4. In the previous month, the barometer stood at 99.2 points (revised from 98.2). The majority of the indicator bundles are affected by the slowdown. In particular, the indicators for manufacturing, services, hotels and restaurants and private consumption. In contrast, the outlook for foreign business is stable and that for financial and insurance services is brightening.
In the manufacturing sector (processing and construction), the indicators for capacity utilisation, the order situation, production and inventories are the main dampeners. In contrast, the indicators for earnings development tend to point to an easing.
Within the manufacturing sector, the outlook for the chemical and pharmaceutical industries, textile and clothing manufacturers and the wood and paper products sector is less favourable than before. The indicator values for mechanical engineering, food and beverage producers and for the metal sector are almost stable. The trend for indicators in the electrical sector is upward.