Switzerland's leading KOF economic barometer jumped to 110.2 in August of 2020 from an upwardly revised 86 in July, beating market forecasts of 90. It is the highest reading since August of 2010 and above the long-term average of 99.4. Manufacturing, the hospitality sector and foreign demand made the main upward contributions, followed by indicators related to financial and insurance services. The construction sector, on the other hand, recorded a slight deterioration. August increase was almost the same as a record 25.6 points record gain in July. However, the crash in the spring of this year was also the worst in the history of the barometer. According to this, the Swiss economy is in the upswing phase of what appears for the time being a V-shaped recession.
Business Confidence in Switzerland averaged 99.43 points from 1991 until 2020, reaching an all time high of 119.50 points in April of 2010 and a record low of 49.50 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 September of 2020.
Business Confidence in Switzerland is expected to be 107.00 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 97.00 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.