FX.co ★ Swiss KOF Economic Barometer Rises Further

In November 2025, Switzerland's KOF Economic Barometer rose to 101.7 from 101.5 in October, slightly surpassing market expectations. This marks the highest level since March and remains above the medium-term average, suggesting a continued positive trajectory for the economic outlook. Positive trends are seen in indicator bundles related to foreign demand and private consumption. Conversely, on the production front, financial and insurance services and construction indicators have shown signs of weakening. Many indicators in the producing sectors, particularly manufacturing and construction, demonstrated negative tendencies. This includes employment prospects and intermediate goods inventory, although these were partially counterbalanced by a promising export outlook. Within the manufacturing sector, forecasts are mixed: the chemical and pharmaceutical industries are gaining momentum, while the paper and printing and metal sectors are experiencing a downturn.