The KOF Economic Barometer increases slightly in November. After now rising for three consecutive months, it continues to remain above its medium-term average. The outlook for the Swiss economy is steady.
In November, the KOF Economic Barometer increases by 0.2 points to a level of 101.7 (after revised 101.5 in the previous month). The positive developments are particularly reflected by the demand side indicators included in the KOF Economic Barometer. Both the indicator bundles for foreign demand as well as for private consumption show a favourable outlook. Among the production side indicator bundles, the indicators for financial and insurance services and for construction are under pressure.
Many of the indicators for the different aspects of business activity within the producing industry (manufacturing and construction) are under pressure. In particular, the sub-indicators for employment prospects as well as for stockpiling of intermediate goods exhibit negative developments. This is slightly cushioned by a positive outlook for the sub-indicators for exports in particular.
The sub-indicators within manufacturing indicate a mixed outlook. While the sub-indicators for the chemical and pharmaceutical industry are particularly improving, the sub-indicators for paper and printing products as well as for the metal industry are under pressure.