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Switzerland’s KOF Economic Barometer rose to 101.7 in November 2025 from 101.5 in October, slightly above market expectations of 101.5. This was the highest level since March and remains above the medium-term average, indicating a continued improvement in the economic outlook. Indicator bundles for foreign demand and private consumption show a favorable trend. However, on the production side, the indicators for financial and insurance services and construction weakened. In the producing industries (manufacturing and construction), many indicators showed negative developments, particularly employment prospects and stocks of intermediate goods, though these were partly offset by a positive outlook for exports. Within manufacturing, the outlook is mixed. the chemical and pharmaceutical industries showed improving momentum, while the paper and printing and metal sectors deteriorates.