(22.01.2025) The 2024 fiscal year closed on a mixed note with uncertain prospects. The KOF Economic Barometer from ETH Zurich fell by 3.4 points in December, settling at 99.5. Following an uptick in November (102.9), it once again dipped below the long-term average.
This general slowdown is largely attributed to significant decline in the manufacturing, service, and hospitality sectors. Both external demand and consumer spending also weakened in December 2024.
The study further highlights that manufacturing and construction are under increasing pressure. Contributing factors include reduced production activity, a lack of orders, and shrinking external demand.
Manufacturers in the chemical and pharmaceutical sectors, as well as those in textiles, automotive, and machinery, report pessimistic forecasts. By contrast, producers of traditional materials such as wood, glass, stone, and clay benefited from a more favorable environment. The agri-food industry, meanwhile, remained stable in December.
After record highs in 2021 spurred by the health crisis, the economic barometer dropped below its long-term average in February 2022. It took twenty-two months to recover, briefly returning to growth in December 2023. Since then, economic conditions have hovered around the long-term average, showing no clear signs of sustained recovery.
Last modification 21.01.2025
