KOF Economic Barometer: Stabilization at a low level

In October, the KOF Economic Barometer rose by 1.6 points, from 93.1 points in September (revised from 93.2 points) to 94.7 points. This increase is attributable in particular to bundles of indicators from the banking and insurance sector as well as from accommodation and food service activities. Furthermore, indicators regarding foreign demand and other services are pointing in a slightly less negative direction than in the previous month. On the other hand, indicators from the manufacturing sector record a slight decline.

In the goods producing sectors (manufacturing and construction), the indicators on the number of employees and on barriers to production burden the development. Export prospects are also subdued in the coming months. However, production is expected to develop somewhat more positively, albeit still below average.

Within the manufacturing sector, the indicators also point in different directions depending on the industry. The changes in the indicators for the metal industry, the electrical industry and machinery and vehicle producers are clearly negative. The indicators for the wood, glass, stone and earth industries, the paper and printing industry and the chemicals, pharmaceuticals and plastics industries, on the other hand, show an improvement.