2024

The Leading Global Barometer rises for the second month in a row, but only partially compensating for the losses in February and March. The Coincident Barometer increases marginally this month, remaining within the narrow range of 93 to 94 points observed since February.

The KOF Business Situation Indicator for the Swiss private sector, which is calculated from KOF’s Business Tendency Surveys, improved slightly in April. The situation in the manufacturing sector eased, while it deteriorated slightly in the construction industry.

The KOF Employment Indicator has recorded a further decline in the second quarter of 2024 compared with last quarter. The deterioration in employment prospects is particularly evident in the manufacturing and banking sectors. Overall, the indicator is approaching its long-term average.

The KOF Economic Barometer rises in April after two consecutive months of decline. With this increase, the barometer settles in the slightly above-average range. The Swiss economic development is robust, but there is currently no strong boost in sight.

The KOF MPC figure for 11 April 2024 is -0.26. At today’s meeting, the ECB’s Governing Council decided to keep the three key ECB interest rates unchanged and confirmed that incoming data is in line with its previous medium-term inflation outlook.

The Leading Global Barometer rises in April, partially offsetting the substantial decline of the previous month to remain close to the neutral level of 100 points. The Coincident Barometer falls slightly this month, confirming that it peaked in January before pointing to a subsequent phase of rather sluggish global economic activity.