(15.03.2023) Switzerland's economy is maintaining its upward trajectory, which started in December 2022. After nine months of below-average performance, the barometer of the Swiss Economic Institute (KOF) at ETH Zurich reached 100.03 points in February 2023.
The growing optimism observed at the end of 2022 and the beginning of 2023 appears to be confirmed. The barometer seems to be on an upward trend, reaching its highest value since April 2022 in February 2023. However, the month-on-month increase remains relatively modest (+2.6 points).
The economic indicators have shown positive or neutral trends, except for the hospitality sector, where the situation has slightly deteriorated. The manufacturing industry, consumer and export-related sectors, and the financial sector have shown the most favorable signals. The remaining indicators have not shown significant changes.
In the manufacturing industry, the paper industry is the main driver of the upward trend, while metallurgy and the textile industry also emit clear positive signals. Although they have been less prominent, the other sub-sectors of the manufacturing industry have all recorded a slight improvement or no significant change.
In the production sector (manufacturing industry and construction), the competitive situation and production are considered particularly favorable at the beginning of this year, while the business situation and order books are showing rather positive signals. However, indicators related to employment show some caution in this regard, mainly due to the shortage of labor.
Last modification 15.03.2023