Economic outlook remains more favorable than average

Specifically, the barometer fell by 1.1 points to 102.5 points, as reported by the KOF Institute at ETH Zurich on Friday. It had risen steadily in the previous four months.

However, the KOF economists emphasized that the economic barometer was still above the medium-term average. It was also within the estimates of the AWP news agency, which ranged from 102 to 104 points.

The indicators for the hospitality and construction industries had developed negatively at the beginning of the year. On the positive side, the manufacturing industry as well as financial and insurance service providers were on the rise.

According to the KOF, "mixed" trends can be observed within the manufacturing industry (manufacturing and construction). For example, the employment outlook, obstacles to production and the export industry developed negatively. On the other hand, the order situation and the competitive situation were positive.

In the sub-sectors of the manufacturing industry, the electrical industry and the wood, glass, stone and earth sectors performed less well. The automotive and mechanical engineering sector, the metal sector and the paper and printing products sector in particular are showing positive prospects.

The KOF Economic Barometer is a so-called leading composite indicator. It is based on a large number of indicators and is intended to show how the Swiss economy is likely to develop in the near future.