The KOF Economic Barometer for Switzerland edged down 0.2 points to 93.6 in June 2019 from a downwardly revised 93.8 in the previous month, missing market expectations of 94.9. While indicators of foreign demand showed a positive trend, the indicators in manufacturing and private consumption pointed in the opposite direction. The negative development in the manufacturing sector was mainly attributable to indicators on the situation of primary products and order backlogs, while the assessment of the competitive situation, the employment situation and the export prospects remained unchanged. There was also a slight weakening in the banking and insurance industry. Business Confidence in Switzerland averaged 100.51 Index Points from 1991 until 2019, reaching an all time high of 119.30 Index Points in November of 2009 and a record low of 71.80 Index Points in December of 2008.
Business Confidence in Switzerland is expected to be 94.90 Index 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 96.00 in 12 months time. In the long-term, the Switzerland Business Confidence is projected to trend around 101.00 Index Points in 2020, according to our econometric models.