The KOF Economic Barometer for Switzerland declined by 1.8 points from the previous month to 94.45 in May 2019, missing market expectations of 95.9, as the majority of sets of indicators tended downwards, namely in banking and insurance, consumption and foreign demand. Also, the prospects for accommodation and food service activities and the other service providers have become gloomier. Meantime, indicators in the manufacturing sector pointed in different directions depending on the industry. Outlook in the manufacturing sector hardly changed compared to the previous month while for the construction sector improved. Business Confidence in Switzerland averaged 100.53 Index Points from 1991 until 2019, reaching an all time high of 119.30 Index Points in November of 2009 and a record low of 71.80 Index Points in December of 2008.
Business Confidence in Switzerland is expected to be 94.90 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Switzerland to stand at 96.00 in 12 months time. In the long-term, the Switzerland Business Confidence is projected to trend around 101.00 Index Points in 2020, according to our econometric models.