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Source: KOF Economic Institute

In November, the KOF Economic Barometer rises moderately and now stands at 96.7 points. It is thus continuing to approach its long-term average. Since the mid of 2023, it has thus remained at a stable, albeit below-average level. Therefore, the outlook for the Swiss economy remains moderate.

The KOF Economic Barometer stands at 96.7 points in November, 1.6 points higher than in October (revised from 95.8 to 95.1 points). The increase is primarily attributable to indicator bundles of the manufacturing sector and to indicators capturing the other services sector. Indicators for the hospitality industry and the finance and insurance sector are sending out slightly negative signals.

In the goods producing sector (manufacturing and construction), indicators relating to the situation for intermediate goods developed positively in November, followed by the assessment of employment prospects and the competitive situation. Indicator bundles covering production capacities and the business situation remain at an almost constant level.

Within the manufacturing sector, indicators for the textile industry, the metal industry and the mechanical engineering industry are mainly responsible for its positive development. By contrast, indicators for the paper and printing industry and the wood, glass, stone and soil sector are sending a negative signal.