KOF Economic Barometer falls in July
The KOF Economic Barometer is approaching its medium-term average value in July, showing a decline of 1.7 points to 101.0 points. This indicates a continued moderate economic development in Switzerland. The decline particularly affects foreign and consumer demand, as well as the hospitality, construction, and manufacturing sectors. Only the financial and insurance sector shows a positive trend. Within the manufacturing sector, the areas of electrical, wood, glass, stones, earth, and mechanical engineering are particularly negatively affected.
Manufacturing industry under pressure
In the manufacturing industry, the order situation, capacity utilization and production activity are having a particularly negative impact on development. On the other hand, inventories and orders for preliminary products and the competitive situation are having a positive effect. Within the manufacturing industry, the outlook for the electrical sector, wood, glass, stone and earth and mechanical engineering is less favorable. The outlook for the metal sector, the textile and clothing industry and the paper and printing products sector has improved.