(22.10.2025) Economic prospects remain mixed at the end of the third quarter of 2025. In September, the KOF Economic Barometer of ETH Zurich reached 98 points – 1.8 points higher than the previous month – and remains below the long-term average (100).
Indicators for the manufacturing sector as well as for financial and insurance services improved slightly, suggesting a gradual recovery in these areas of activity. An upward trend is emerging in particular among indicators relating to business activity in manufacturing and construction.
The KOF report also notes a particularly positive development in the indices linked to foreign trade and to the general business situation across various branches of industry and construction. However, indicators relating to stock levels and production activity show a slight contraction.
Within manufacturing, certain subsectors (wood, glass, stone and building materials industries, the paper and printing sector, and the electrical industries) are showing encouraging results. Conversely, companies in the chemical and pharmaceutical industries, as well as in mechanical engineering, are seeing a decline in their indicators.
After peaking at 129.1 in April 2021 following the Covid-19 pandemic, the economic barometer fell below its historical average in February 2022. It then took almost two years, until December 2023, for a positive dynamic to re-emerge. Since then, the economic situation has fluctuated around its long-term average without showing clear signs of recovery.
Last modification 22.10.2025
