The KOF Economic Barometer in Switzerland went up to 96.4 in December of 2019 from a downwardly revised 92.6 in the previous month which was the lowest since April of 2015. December figures were the strongest in 8 months and came well above market expectations of 94.5. The increase is primarily due to bundles of indicators from the manufacturing sector. Positive signals also came from indicators covering other services and foreign demand. Indicators concerning private consumption as well as hotel and catering activities showed a moderate increase. The barometer, which tended to fall during the year 2019, has thus fully recovered. However, it is still below its long-term average. The outlook for the Swiss economy at the beginning of 2020 is brightening somewhat, but remains subdued.

Business Confidence in Switzerland averaged 99.82 points from 1991 until 2019, reaching an all time high of 119.50 points in April of 2010 and a record low of 60 points in February of 2009. 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.

Business Confidence in Switzerland is expected to be 94.00 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 102.00 in 12 months time. In the long-term, the Switzerland Business Confidence is projected to trend around 101.00 points in 2020, according to our econometric models.


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Switzerland Business Confidence

Actual Previous Highest Lowest Dates Unit Frequency
96.40 92.60 119.50 60.00 1991 - 2019 points Monthly
NSA

Calendar GMT Actual Previous Consensus TEForecast
2019-09-30 07:00 AM Sep 93.2 95.5 96.2 95.9
2019-10-30 08:00 AM Oct 94.7 93.1 93.9 94.1
2019-11-29 08:00 AM Nov 93 94.8 95 95.5
2019-12-30 08:00 AM Dec 96.4 92.6 94.5 94
2020-01-30 08:00 AM Jan 96.4 96.5 97


News Stream
2019-11-29
Switzerland Business Indicator Lowest since 2015
The KOF Economic Barometer in Switzerland fell to 93 in November of 2019 from an upwardly revised 94.8 in the previous month and well below market expectations of 95. It is the lowest reading since April of 2015, mainly dragged down by negative signals from hotel and catering activities and from the banking and insurance sector. Indicators regarding foreign demand and other services also declined while indicators for the manufacturing sector remained almost unchanged. The KOF barometer is still well below its long-term average and the outlook for the Swiss economy remains subdued.

2019-10-30
Swiss KOF Economic Barometer Beats Forecasts
The KOF Economic Barometer in Switzerland rose to 94.7 in October 2019 from a downwardly revised 93.1 in the previous month and beating market consensus of 93.9. Banking & insurance sector as well as from accommodation & food service activities improved. Also, indicators regarding foreign demand and other services were slightly less negative than in September, while indicators from the manufacturing sector fell. In the goods producing sectors, the indicators on the number of employees and on barriers to production burden the development. Production is expected to develop somewhat more positively, albeit still below average. Within the manufacturing sector, the changes in the indicators for the metal industry, electrical industry & machinery and vehicle producers are negative while for the wood, glass, stone & earth industries, paper & printing and chemicals, pharmaceuticals & plastics industries improved.

2019-09-30
Swiss KOF Economic Barometer Falls
The KOF Economic Barometer in Switzerland fell to 93.2 in September 2019 from a downwardly revised 95.5 in August and missing market expectations of 96.2. It was the lowest reading since April 2015, primarily due to manufacturing and reinforced by negative developments in service industry and the accommodation and food service industry. By contrast, private consumption, foreign demand and construction remained stable relative to the previous month. In the goods producing sector (manufacturing and construction), negative contributions came from order backlogs, the development of production and the overall business situation. By contrast, the assessment of the competitive position and export prospects remained virtually unchanged compared to the previous month. Within manufacturing, the outlook has become more clouded, namely for the metal, wood and chemical industry. In addition, indicators from the machine and vehicle construction sectors also pointed to a negative development.

2019-08-30
Swiss KOF Economic Barometer Above Forecasts
The KOF Economic Barometer in Switzerland held steady at 97.0 in August 2019, easily beating market expectations of 94.5. Somewhat more favourable signals than before are coming from indicators of foreign demand and domestically from consumer prospects and manufacturing; while accommodation and food service activities, financial, insurance and other services as well as construction tend to point to stagnation or slight deterioration in economic sentiment. In the goods producing sectors (manufacturing and construction), the barometer is strengthened mostly by indicators on order backlog and inventories. The remaining indicators are emitting only negligible signals. Within manufacturing, the outlook has become more favourable especially for machinery, the metal industry, the chemical industry as well as for food and beverages. On the other hand, the outlook has mainly worsened for the paper and the electrical industries.

2019-07-30
Swiss KOF Economic Barometer Beats Forecasts
The KOF Economic Barometer for Switzerland rose 3.3 points to 97.1 in July 2019 from an upwardly revised 93.8 in June, beating market consensus of 93. More favourable signals than before came from manufacturing, other services, accommodation and food service activities, financial and insurance services, and construction. In the goods producing sectors, all the indicators on the competitive situation and the number of employees strengthened. Within manufacturing, the outlook is more positive, namely for the electrical industry and food and beverages. On the other hand, the indicators for demand from abroad have a dampening effect.

2019-06-28
Swiss KOF Economic Barometer Below Forecasts
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.


Switzerland Business Confidence
In Switzerland, the KOF Swiss Economic Institute economic barometer measures the level of optimism that people who run companies have about the performance of the economy and how they feel about their organizations’ prospects. The KOF economic barometer is based on a multi-sectoral design with three modules. The 2014 version comprises 219 indicator variables, which are combined based on statistically determined weights. The most important module is GDP, which excludes construction and banking sectors and accounts for more than 90% of Swiss GDP.

Switzerland Business Last Previous Highest Lowest Unit
Business Confidence 96.40 92.60 119.50 60.00 points [+]
Manufacturing PMI 50.20 48.80 66.90 32.80 points [+]
Industrial Production 8.00 4.40 12.30 -10.60 percent [+]
Manufacturing Production 7.20 5.20 12.80 -11.60 percent [+]
Capacity Utilization 80.42 79.89 90.00 75.04 percent [+]
Changes in Inventories -2036.40 -2877.60 4252.60 -4313.40 CHF Million [+]
Bankruptcies 13971.00 13257.00 13971.00 3040.00 Companies and Individuals [+]
Car Registrations 24.10 25.73 46.78 1.41 Thousand [+]
Internet Speed 21683.45 21238.67 21683.45 4380.25 KBps [+]
IP Addresses 3855605.00 3760263.00 3855605.00 1700696.00 IP [+]
Industrial Production Mom 0.80 1.10 5.40 -4.90 percent [+]
Mining Production -1.70 -3.20 19.40 -24.40 percent [+]
Services Pmi 50.60 51.70 68.40 48.20 points [+]
Zew Economic Sentiment Index 12.50 -3.90 65.00 -91.10 [+]
Competitiveness Index 82.33 82.59 82.59 5.54 Points [+]
Competitiveness Rank 5.00 4.00 5.00 1.00 [+]
Ease of Doing Business 36.00 38.00 38.00 19.00 [+]
Corruption Index 85.00 85.00 91.00 84.00 Points [+]
Corruption Rank 4.00 3.00 12.00 3.00 [+]