FX.co ★ Swiss KOF Economic Barometer Hits 15-Month High

In December 2025, Switzerland's KOF Economic Barometer saw an increase of 1.7 points, reaching a value of 103.4, marking its highest point since September 2024 and surpassing market predictions, which forecasted a level of 101.4. This upward trend is notably prominent in the production sector, with indicators related to manufacturing indicating a favorable outlook. Conversely, indicators for private consumption and foreign demand remain subdued. Looking at the producing industries, which encompass manufacturing and construction, the majority of sub-indicators—such as employment prospects, stock levels of intermediate goods, and the overall business situation—suggest a positive outlook. Despite this, sub-indicators connected to production activity and order backlogs are showing signs of weakening. Within manufacturing, numerous sub-indicators point to positive momentum, particularly for the metal industry and the wood, glass, stone, and earth sectors. Nonetheless, this optimism is somewhat offset by weaker indicators in the food and beverage sector as well as the chemical and pharmaceutical industries.