The Swiss economy is set to register well below average growth in 2024 as the weaker momentum in the euro area hurts Swiss exports and higher financing cost curbs investment, the State Secretariat for Economic Affairs, or SECO, said Wednesday. In the economic forecast, the expert group of the SECO said gross domestic product will grow 1.3 percent this year, which was unchanged from the previous outlook. But the government trimmed the outlook for 2024 to 1.1 percent from 1.2 percent. The government expects private consumption to provide some support to growth.
The expert group noted that the subdued momentum in the eurozone is likely to hold back the exposed areas of the Swiss export industry. Moreover, declining capacity utilization and higher financing costs are expected to curb investment activity.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.