(20.07.2022) Switzerland's economy is heading for a difficult period. The KOF Swiss Economic Institute's barometer is continuing its downward trend and stood at 96.9 points in June 2022, down by 0.8 points compared to May and by 6 points compared to April.
The barometer is thus showing a lower than average value (100) for the second time in a row. The manufacturing industry sectors are the main contributors to this decline. In these areas, indicators for employment and intermediate products fared the worst.
The manufacturing industry is going through a difficult period, with wood and paper, and food and beverages being particularly affected. On the other hand, the chemical and pharmaceutical industries are slightly more optimistic.
Financial services, insurance, and construction remained at the same level month-on-month. Private consumption indicators, meanwhile, showed a slight improvement.
After reaching record levels in spring 2021 (143.77 in May 2021, and 132.78 in June), the barometer values kept falling until they dropped below the 100 mark in March 2022 (98.96) for the first time since January 2021. In fact, one must go as far back as the health crisis to find a lower value (96.31 in January 2021) than this one in June.
Last modification 20.07.2022
