Hope is on the horizon for the Swiss economy with the KOF barometer which reached 59.4 points, up 9.8 points compared to the previous month.
The Swiss economy will not be rid of the harmful effects of the coronavirus crisis any time soon, but a glimmer of hope is on the horizon. The KOF Center for Short-Term Studies found improvement in several sectors in June.
In June, the KOF barometer reached 59.4 points, an increase of 9.8 points over a month, said a statement released Tuesday. Despite this clear progression, the indicator totally misses the expectations of the economists questioned by AWP, who estimated between 69 and 85 points.
The institution has revised down the value of May to 49.6 points, compared to the 53.2 points initially announced.
Status quo for chemistry
The negative trends that have plagued different business sectors since the start of the year have been halted, however, puts the KOF in perspective.
In the processing industry, the outlook remains at a “very low” level, but the upturn is more marked than in other branches. Metallurgy, mechanical and automobile construction, as well as the wood industry are back on the rise, while the status quo prevails for chemistry.
The signals are “very slightly positive” for building and other services. On the other hand, private consumption and the hotel industry still present “very bleak” prospects, according to KOF specialists.
(ATS / NXP)
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