The KOF Economic Barometer has only changed little and reached a value of 102.7 in July. In June, and therefore before the referendum in the United Kingdom about its membership in the EU, the KOF Economic Barometer stood at a value of 102.6 (revised from 102.4). Thus the Barometer has been standing above the historical average since February this year. Despite the outcome of the vote in the United Kingdom and various other geopolitical risks, the outlook for the Swiss economy remains stable.

Despite increased uncertainty about the international economic development, export opportunities for Swiss enterprises have improved. The indicators for the banking sector also show an upward tendency. On the other hand, the data for the manufacturing industry dampen the development. Barely changed has the outlook for domestic consumption, construction activity and for hotels and catering.