FX.co ★ Swiss KOF Barometer Rises to Five-Month High

Switzerland’s KOF Economic Barometer climbed to 103.5 in July 2026 from an upwardly revised 102.1 in June, surpassing market expectations of 101.0 and marking its highest level since February. The reading indicates strengthening momentum in the Swiss economy in the coming months.

The improvement was broadly based on the production side: indicator groups for financial and insurance services, other services, construction, and manufacturing all pointed to a more favorable outlook. By contrast, indicators for foreign demand and private consumption remained largely stable.

Within the production sector, assessments of competitiveness, profitability, overall business conditions, and production constraints all improved. However, expectations for future production activity and inventories of intermediate goods weakened somewhat.

In manufacturing, prospects deteriorated for the textile industry and for the wood, glass, stone, and earth materials segment. Meanwhile, the electrical industry and the machinery and equipment sector continued to exhibit stronger momentum.