Exports, in particular, have been affected by falling demand.
Keystone / Karl Mathis
Difficult conditions in important export markets such as Germany and China will weigh on the Swiss economy in the coming months, according to Swiss Life economists, who have revised their growth forecasts downwards.
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Keystone-SDA/ts
Specifically, according to analyses released by the insurer on Thursday, gross domestic product (GDP) is expected to grow by 0.5% this year and 1.0% in 2024, compared to a previous assessment – only a month ago – of 0.7% and 1.3% respectively.
The revision is justified by the fact that the data known so far point to a significant slowdown in economic momentum. Exports, in particular, were affected by falling demand.
By contrast, inflation estimates remain unchanged: the average inflation rate is seen at 2.1% in 2023 and 1.6% in the following 12 months.
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