Plus   Neg

Swiss GDP Growth To Improve In 2020

The Swiss economy is forecast to log a moderate growth this year as weakening global activity and considerable uncertainty is weighing on foreign trade and investment, the State Secretariat for Economic Affairs said Thursday.

In the summer forecast, the expert group of SECO upgraded the 2019 growth projection to 1.2 percent from 1.1 percent. The outlook for 2020 was retained at 1.7 percent.

If the trade situation were to intensify further, the global economy, and thus the Swiss economy, would be expected to cool off more strongly, particularly if the EU and Germany were to be significantly affected, the agency cautioned.

However, the government expects the labor market situation this year to remain favorable. The unemployment rate is seen at 2.4 percent in 2019 and 2.6 percent next year.

The expert group raised inflation forecast for 2019 to 0.6 percent from 0.4 percent, while the projection for 2020 was maintained at 0.6 percent.

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Follow RTT