Switzerland's leading KOF economic barometer fell to 53.2 in May of 2020 from a downwardly revised 59.7 in the previous month and well below market forecasts of 70. It is the lowest reading on record, due to the coronavirus pandemic. In fact, the strong decrease of the indicator in the last three months is more pronounced than, for example, during the financial crisis in 2008/2009. The Swiss economy is in a sharp recession. The manufacturing sector continues to have the strongest negative impact as well as indicators relating to foreign demand. By contrast, private consumption and the construction industry are sending slightly improved signals.
Business Confidence in Switzerland averaged 99.56 points from 1991 until 2020, reaching an all time high of 119.50 points in April of 2010 and a record low of 53.20 points in May of 2020. This page provides the latest reported value for - Switzerland Business Confidence - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Switzerland Business Confidence - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020.
Business Confidence in Switzerland is expected to be 73.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Switzerland to stand at 85.00 in 12 months time. In the long-term, the Switzerland Business Confidence is projected to trend around 94.00 points in 2021 and 99.00 points in 2022, according to our econometric models.