Switzerland’s KOF Economic Barometer slipped to 107.6 in October 2026, down from 109.1 in September and below market expectations of 108.3. The decline was broad-based across most indicator groups. On the demand side, both foreign demand and private consumption weakened slightly. On the production side, “other services” as well as financial and insurance services weighed on the index, while manufacturing made a positive contribution.
Within the producing sector, signals were mixed: indicators for intermediate-goods inventories and the competitive situation deteriorated, whereas those for exports, production activity, and assessments of production constraints improved. In manufacturing, the metal industry and food and beverage producers recorded particularly strong gains, while the outlook for paper and printing products worsened. Despite the decrease, the barometer remained above its medium-term average, pointing to a still robust outlook for the Swiss economy.
