Source: KOF Swiss Economic Institute
Zurich, 28 August 2026, 9:00 a.m.
The KOF Economic Barometer rises in August. After its consecutive increases in the previous months, its level is now noticeably above its medium-term average. The outlook for the Swiss economy is positive.
In August, the KOF Economic Barometer increases by 2.5 points to a level of 106.7 (after revised 104.2 in the previous month). The indicator bundles for manufacturing, other services, as well as foreign demand particularly reflect these positive developments. The indicator bundle for private consumption is slightly under pressure.
Within the producing industry (manufacturing and construction), the developments for the majority of the indicator bundles are positive. Particularly the indicator bundles for stockpiling of intermediate products, for employment prospects, for production activity, and for order backlogs indicate a strengthened outlook.
Most of the sub-indicators within manufacturing equally support the positive outlook. Both the sub-indicators for the metal industry as well as for the textile industry show favourable developments, while the sub-indicators for the paper and printing industry experience a setback.
Data and Graphs
KOF Economic Barometer
KOF Economic Barometer (long-term average 2015-2024=100)
| Month | Current level | Level previous month |
|---|---|---|
| Aug 2025 | 97.5 | 97.5 |
| Sep 2025 | 98.3 | 98.3 |
| Oct 2025 | 100.9 | 100.9 |
| Nov 2025 | 101.2 | 101.2 |
| Dec 2025 | 103.1 | 103.1 |
| Jan 2026 | 103.4 | 103.4 |
| Feb 2026 | 103.5 | 103.5 |
| Mar 2026 | 95.0 | 95.0 |
| Apr 2026 | 97.9 | 97.9 |
| May 2026 | 98.6 | 98.6 |
| Jun 2026 | 102.1 | 102.1 |
| Jul 2026 | 104.2 | 103.5 |
| Aug 2026 | 106.7 |
KOF Economic Barometer and Reference Series
The Swiss business cycle as measured by the smoothed GDP growth (Reference Series, SECO/KOF) is displayed at a standardized scale here (mean=100, standard deviation=10).
KOF Economic Barometer (long-term average 2015-2024=100)
Contribution of variable groups to the KOF Economic Barometer
Variable groups: Manufacturing; Construction; Accommodation and food service activities; Financial sector; Other services; Consumption; International; Other; KOF Economic Barometer.
This graph shows the deviations of the variable groups from the long-term group mean, which is standardized at 100. The variables included in the KOF Economic Barometer are divided into groups. The group values are calculated from the weighted group totals calculated with individual variable weights. Example: A group value of 102.0 means that the weighted group total deviates upwards by 2.0 from the group average. A contribution of 98.0 means that the weighted group total deviates downwards by –2.0 from the group average. The total deviations of all groups from their respective group average plus 100 result in the value of the KOF Economic Barometer.
Detailed information regarding the KOF Economic Barometer: KOF Economic Barometer
Full press release with graphs: PDF