(13.11.2024) Economic recovery continues to struggle. The Economic Research Center's (KOF) barometer at ETH Zurich has dropped by 5.0 points to 99.5 in October (down from 104.5 in September). This marks the first time since January 2024 that the indicator has fallen below the average (100).
This general slowdown is largely due to weaker performance across key sectors, including manufacturing, financial and insurance services, other services, hospitality, and construction.
However, the study’s authors note that external and consumer demand remained strong in October. Despite this resilience, demand’s effect on the economy appears relatively modest and insufficient to drive a full recovery.
Additionally, nearly all indicators within the production sector (manufacturing and construction) have declined. Exports are weakening, production is slowing, competitive positioning is deteriorating, and order books are thinning. However, indicators related to intermediate material purchases and inventory management have resisted this downward trend.
In manufacturing, prospects are deteriorating in several subsectors: chemicals and pharmaceuticals, metallurgy, wood, glass, stone, and earth products, food production, and leisure goods. Only the outlook for textiles and clothing stands out, showing a more positive trajectory.
Last modification 12.11.2024
