Summer 2026: Economic outlook continues to improve
(19.08.2026) Switzerland's economic outlook improved further in July. The KOF Economic Barometer of the KOF Swiss Economic Institute at ETH Zurich rose by 1.4 points to 103.5, up from 102.1 in June 2026, and by 3.2 points compared with July 2025 (100.3).
This increase confirms the upward trend that began in June 2026. At that time, the barometer rose above its long-term average (100) for the first time since the beginning of the year.
Most indicator groups confirm this positive trend. In July, the outlook improved in financial and insurance services, other services, construction and manufacturing. Indicators relating to foreign demand and consumption remained stable.
Within the manufacturing sector, the competitive situation, profit developments, and assessments of production constraints and the overall business situation also improved in July. However, stocks of intermediate goods and production activity continued to moderate this positive momentum. Developments nevertheless varied across subsectors. While the outlook deteriorated in the textile industry and in the wood, glass, stone, and clay products sector, the electrical engineering and automotive and mechanical engineering industries sent encouraging signals.
After reaching record levels in 2021 in the wake of the COVID-19 pandemic, the KOF Economic Barometer fell below its long-term average in February 2022. It did not return to growth until December 2023, after which it fluctuated around its long-term average. In 2026, the barometer initially increased at the beginning of the year before falling by 8.5 points in March. It returned above its long-term average in June.