FX.co ★ Swiss Economic Barometer Lowest in 9 Months

Switzerland’s KOF Economic Barometer fell to 96.1 in March 2026, its lowest reading since June 2025, down from a revised 103.8 in February and below market expectations of 102. The softer outlook is evident in both the production and demand components of the index, with particularly pronounced declines in manufacturing and external demand indicators. Within the producing sector, which comprises manufacturing and construction, most measures of business activity signal a deterioration, notably those related to exports, overall business conditions, and order backlogs, all of which remain under pressure. Sentiment in manufacturing is broadly negative. Although indicators for the food and beverages segment show modest improvement, conditions are worsening more noticeably in machinery and equipment, the electrical industry, metals, and the paper and printing sectors.