For October
Provided by: The Swiss Institute for Business Cycle Research
Official Release: PDF

From the Release: "The KOF Economic Barometer declined 0.33 points relative to the October figure (revised), and now stands at –0.05 in November. This means that over the coming months Swiss gross domestic product can at best be expected to match the level recorded in the same quarter of the previous year.

The KOF economic barometer is based on a multi-sectoral design with three modules. Their contribution to the development of the barometer is as follows: The Core GDP module (GDP excluding construction and banking) is still pointing clearly downwards, and the Construction module is also heading south, although less markedly than before. The Banking module is unable to offset these effects. The Core GDP module accounts for some 90% of Swiss GDP. The decline in the Export Destination EU sub-module continues, and the Swiss Industry sub-module is also pointing lower. The decline in the Swiss Consumption sub-module is even more marked."

For September
Provided by: The Swiss Institute for Business Cycle Research
Official Release: PDF

From the Release: "In October 2008 the barometer value slipped a further 0.17 points relative to September, and is
now at 0.35 points.Year-on-year gross domestic product (GDP) growth is likely to be minimal in the near future.

The KOF economic barometer stands at 0.35 in October 2008, meaning it has declined relative to the previous month when it showed a figure of 0.62 (on the basis of new data, the revised figure is now 0.52). This consequently means the barometer is signalling a continued decline in the year-on-year GDP growth rate for the coming months."

For August
Provided by: The Swiss Institute for Business Cycle Research
Official Release: PDF

From the Release: "The barometer value in September 2008 is 0.62 points, i.e. lower than in August. This means the barometer provides no grounds to take an optimistic view of Swiss economic growth.

In September the KOF economic barometer sank 0.11 points relative to the (revised) August figure, and at the end of this month stands at 0.62. For the Swiss economy this points to slower year-on-year growth in gross domestic product (GDP) for the months ahead.

The KOF economic barometer is based on a multi-sectoral design with three modules. Their contribution to the development of the barometer is as follows: the Core GDP module (GDP excluding construction and banking) continues to trace a downwards trend. The Construction and Banking modules, by contrast, appear to be bottoming out and are having a stabilising effect.

The Core GDP module accounts for some 90% of Swiss GDP, and comprises the information provided by three sub-modules which attempt to measure different phenomena. The Export Destination EU and Swiss Consumption sub-modules are continuing to decline sharply. The slide in the Swiss Industry sub-module, however, appears to have slowed."

For August
Provided by: The Swiss Institute for Business Cycle Research
Official Release: PDF

The Swiss Leading index took a sharp step back in August, falling to 0.68 from July's revised 0.85. That's a five year low for the indicator, which tries to gauge the economy's direction about six months ahead, and may mean Swiss growth can grind to a halt. With the rest of Europe showing considerable moderation in growth, the Swiss economy may follow suit. Export growth is expected to cool in the coming months, and the Swiss financial sector continues to suffer with the fallout from the US housing crisis and credit crunch. 

From the Release: "The barometer value has declined relative to July 2008. In August it lies at 0.68 points. This means the Swiss economy is now likely to grow at a slower pace. The KOF Economic Barometer is at 0.68 points at the end of August 2008. This consequently means it has fallen 0.17 points in comparison to the previous month. For the next few months the downwards trend of the barometer is pointing to reduced gross domestic product (GDP) growth rates. In this conjunction, GDP growth is calculated relative to the same quarter of the previous year."

For July
Provided by: The Swiss Institute for Business Cycle Research
Previous Release: PDF

The leading index fell more than expected in July, posting a 0.90 compared to June's 0.99. It's the lowest level in almost 5 years. The index tries to gauge activity 6 months from now. Swiss exports are being weighed down by slowing global demand, a stronger franc, and soaring raw material costs. Financial giants such as UBS and Credit Suisse are being pressured by the global financial crisis, while consumers are feeling the squeeze as a result of higher inflation. From a growth rate of 3.1% last year, growth may slow to 1.9% in 2008 and 1.3% in 2009 the government siad on June 23rd.

With stocks up in Europe and the US, the Swiss Franc fell lower today, continuing its slide from yesterday.  

From the Release: "The barometer has again eased relative to the June 2008 figure, and in July lies at 0.90 points. This means the Swiss economy is likely to grow more slowly in the months ahead.

The July figure for the KOF Economic Barometer is 0.90 points. This corresponds to a decline of nearly 0.1 points relative to the figure for June.With its downwards trend the barometer is signaling a slower gross domestic product (GDP) growth rate in comparison to the same quarter of the previous year.

The KOF economic barometer is based on a multi-sectoral design with three modules. Their contribution to the development of the barometer is as follows: the Core GDP module (GDP excluding construction and banking) has declined further. The Construction and Banking modules, by contrast, have stabilised for the present."

For June
Provided by: The Swiss Institute for Business Cycle Research
Official Release: PDF

The Swiss leading index fell to the lowest level in almost five years in June. The economy is starting to be afflicted by many of the symptoms faced by its larger neighbors. High inflation and rising cost of fuel is weakening consumer spending. Slowing growth in the Euro-zone and the global economy will affect exports and the manufacturing sectors. another impediment is a faltering financial sector outlook, as banks are being hurt by the housing crisis in the US. With inflation now crimping domestic demand, the Swiss downturn will continue.  

From the Release: " The barometer lies at 1.01 points in June, meaning it has again eased relative to May. It is consequently sending a clear signal for a further slowdown in Swiss GDP growth over the next few months.

In June 2008 the KOF Economic Barometer continued its downwards trend,although this was less pronounced than over the past two months. In the interim the barometer value lies at 1.01 (revised May value: 1.08) and has undercut the long-standing average value of 1.16. This means gross domestic product growth - in comparison to the same quarter of the previous year - is set to slow still further."

For May
Provided by: The Swiss Institute for Business Cycle Research
Official Release: PDF

From the Release: "In the end of May 2008 the KOF economic barometer points at 1.09, which is somewhat lower
than the April reading of 1.20 (now revised to 1.21). Accordingly, it is signalling that Swiss GDP growth is continuing its slowdown, but will remain positive on a year-on-year basis.

Core GDP (GDP excluding construction and banking) is pointing downward but remains on a comparatively
high level. Construction is pointing sideways on a level close to zero, which implies that construction activity is stagnating. The Banking sector is in negative territory and continuing its downward path.

The Core GDP module accounts for more than 90% of Swiss GDP and hence dominates our barometer. It is based on three measurement modules, which presently all signalling a slowdown. Yet, while Domestic consumption is still positive, the Swiss Manufacturing and Export destinations EU measurement models are close to zero."

For April
Provided by: The Swiss Institute for Business Cycle Research
Official Release: PDF 

From the Release: "In April 2008 the KOF economic barometer points at 1.20, which is considerably lower than the March reading of 1.54 (now revised down to 1.40). Accordingly, it is signalling that Swiss GDP growth is continuing its slow-down, but will remain clearly positive on a year-on-year basis.

The KOF economic barometer is based on a multi-sectoral design with three modules. Their contribution to the development of the barometer is as follows: The module Core GDP (GDP excluding construction and banking) is pointing downward but remains on a comparatively high level. The module Construction is pointing sideways as well, but on a level close to zero, which implies that construction activity is stagnating. The Banking module is continuing on the downward trend that started a few quarters ago and is now in negative territory."