Downward economic outlook this year

Spools of thread in sewing machines.

(19.10.2022) The Swiss Economic Institute's (KOF) barometer of the ETH Zurich points to a slowdown in the Swiss economy by the end of 2022. In September, the barometer stood at 93.8, an increase of 0.3 points from its revised value of 93.5 in August.

Clearly below its long-term average since May 2022 (97.1), the barometer picked up very slightly between August and September 2022, but the downward trend that began after its May 2021 peak (143.1) continues.

September's slight increase (+0.3) was primarily attributable to positive signs from the metal, textile and mechanical engineering and vehicle manufacturing industries. However, the electrical industry showed a slight decline compared to the previous month. The indicators for other sectors such as chemicals, pharmaceuticals and plastics remained virtually unchanged.

In manufacturing and construction, both production and inventories are showing signs of improvement, although employment prospects and the business situation are down. However, positive indicators are prevailing and the industry as a whole is in better overall health month-on-month.


Last modification 19.10.2022

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