(20.04.2022) The Swiss economy continues to normalize. In March, the KOF Swiss Economic Institute’s economic barometer approached its average value of 100 standing at 99.7 points. This represents a decrease of 5.6 points compared with the previous month.
Since reaching a record high of 143.7 points in May last year, the KOF barometer shows the Swiss economy returning to normal, driven by a post-pandemic recovery. The index moved from 110 to 105 points between September 2021 and February 2022 and finally fell just below its average of 100 points.
This decline was accelerated by the expected consequences of the war in Ukraine, which began on February 24, 2022. The index's decline is mainly due to the fall in the manufacturing industry’s indicator along with that of private consumption. The rest of the indicators, however, remain stable.
The manufacturing and construction industries have reported a downturn in order books and, to a lesser extent, in business, production and employment. The decline compared to February was felt in all sectors, with textiles first, followed by the electrical and chemical sectors, and finally the mechanical engineering and metal industries.
The KOF has published the economic barometer since the 1970s. This benchmark indicator of the Swiss economy is based on more than 200 variables, the selection of which is revised each year in the fall.
Last modification 20.04.2022
