Source: KOF Economic Institute
The KOF Economic Barometer increases slightly in May. Despite also increasing in the previous month, it continues to stay below its medium-term average. The outlook for the Swiss economy remains muted.
In May, the KOF Economic Barometer rises by 0.2 points to a level of 98.0 (after revised 97.8 in the previous month). The almost unchanged Barometer is apparent in the mixed developments of the indicator bundles included in the KOF Economic Barometer. Among the production side indicator bundles, the indicators for manufacturing are particularly under pressure, which is inter alia cushioned by a positive outlook in the indicators for financial and insurance services.
While on the demand side, the indicators for foreign demand exhibit more favourable developments, the indicators for private consumption experience a setback. The developments within the producing industry (manufacturing and construction) are similarly mixed. The sub-indicators for order backlogs, stocks of finished products and the general business situation show an improved outlook.
However, the sub-indicators for exports and production activity are weakening. Among the sub-indicators within manufacturing, the indicators for paper and printing products show particularly positive developments. In contrast, the sub-indicators for the textile industry as well as for the electrical industry experience a setback.