Swiss economy's outlook improved, KOF Barometer above average
In May, the KOF Economic Barometer has barely changed compared to its April value. It has now a standing of 102.9 points compared to 102.6 (revised from 102.7) in April.
Since February, the Barometer has been solidly standing above its long-term average. This indicates an on-going positive development of the Swiss economy in the coming months.
The Economic Barometer has increased minimally in May compared to the previous month. Positive signals came from the manufacturing sector, the financial sector and the export sector. Indicators related to private consumption, however, show a negative dynamic.
Within the constructing sector, slightly positive impulses come from the architectural and engineering offices, whereas the main constructing sector signals a negative dynamic.
The positive impulses stemming from the manufacturing sector have to be differentiated as well. These are mainly stemming from the machinery, metal and the paper industry, whereas the chemical and the electronic industries contribute negatively.
For the entire manufacturing sector, the purchase of intermediary products, employment, and the production side show a positive dynamic. Negative signals are coming from KOF survey data related to inventories. ■