The KOF economic research centre of the Swiss Federal Institute of Technology in Zurich (ETH Zurich) has published its barometer for the first half of 2018, and it is slightly above the forecasts made by the economists surveyed. The barometer gains 1.7 points and passes the 100-point average mark to reach 101.7 points, which suggests that the Swiss economy is performing slightly above average.
This economic upturn is mainly explained by the increase in exports, but the rise in domestic consumption also contributed strongly. The banking sector and the hotel sector provided some impetus to the market.
In manufacturing and construction, the economic indicators suggest a favourable trend; however, the indicators of actual production trends darken the picture. The outlook for the mechanical engineering, automotive, textile and metallurgical industries is no more favourable. The indicators are positive for the wood and glass industries, chemicals, pharmaceuticals and plastics, as well as producers of other goods.