Outlook weakens for Swiss economy
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.
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.
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles. You can find them here.
If you want to know more about how we work, have a look here, and if you have feedback on this news story please write to english@swissinfo.ch.
External Content
Your subscription could not be saved. Please try again.
Almost finished… We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.
In compliance with the JTI standards
More: SWI swissinfo.ch certified by the Journalism Trust Initiative
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.