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The barometer of ETH economic research institute KOF increased by 3.5 points to 101.5 points compared to the revised value in December. It rose above its medium-term average value (100 points) for the first time since March last year, KOF said on Tuesday.
Additionally, the barometer rose faster than expected. The forecast values of experts surveyed by the AWP news agency were only between 97.5 and 99.0 points for January.
According to the information provided at the beginning of the year, expectations have improved, especially for the accommodation sector and other services sectors. The package of indicators regarding manufacturing, construction and foreign demand also showed a slightly positive development.
However, the outlook for consumer demand remains virtually unchanged, according to KOF. The outlook worsened only for financial and insurance services.
However, in the manufacturing sector (manufacturing and construction), the slight improvement according to KOF masks inconsistent trends. Indicators regarding intermediate product stocks, order status and production activity are in an upward trend. On the other hand, indicators regarding the general business situation and capacity utilization primarily slow things down.
Development in the manufacturing sector is also inconsistent. For example, the prospects for the paper and printing industry as well as food and beverage manufacturers are more positive than before, while the situation has worsened, especially for the metal sector and the chemical and pharmaceutical industries.
The KOF economic barometer is an early indicator of the development of the Swiss economy, consisting of a large number of individual indicators. These are combined into an overall indicator using statistically determined weights. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
