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Clouds darken Swiss economic horizon

This content was published on Oct 22, 2003 The Centre for Applied Economic Research (Créa) said it did not foresee an upturn until 2005. The Lausanne-based institute said the unemployment rate would hit 4.5 per cent by the end of 2004, spurred by a stagnant economy. Unemployment currently stands at 3.7 per cent, or 147,000 jobless. Switzerland’s gross domestic product (GDP) would shrink…