Switzerland Economic Outlook
May 3, 2022After slowing in Q4 on softer private consumption and export growth, the economic expansion likely continued at a moderate pace in Q1. While the lifting of virtually all Covid-19 restrictions from mid-February should have aided domestic demand, the Ukraine war raised price pressures, snarled up supply chains, and likely hurt sentiment towards the end of the quarter. Looking at available indicators, the manufacturing PMI averaged slightly lower in Q1 than in Q4 and the KOF Barometer declined through March. In contrast, the services PMI averaged higher in Q1 as the impact of the pandemic faded. Turning to Q2, the KOF Barometer rose in April, indicating a promising start to the quarter. In politics, in late April, Switzerland’s chief negotiator met with the European Commission in a bid to rekindle bilateral talks. However, no breakthrough was made, and relations with the EU remain at an impasse.
Switzerland Economic GrowthGDP growth will soften this year due to slower export growth and mild government consumption as pandemic-related spending demands ease. However, momentum should still be supported by a healthy labor market. Covid-19 variants, the Ukraine war and the gradual weakening of trade links with the EU in the absence of a revamped trade deal cloud the outlook. FocusEconomics Consensus Forecast panelists project the economy to expand 2.6% in 2022, which is down 0.1 percentage points from the previous month’s forecast, and 1.8% in 2023.
Switzerland Economy Data
5 years of Switzerland economic forecasts for more than 30 economic indicators.
Get a sample report showing our regional, country and commodities data and analysis.
|Bond Yield||-0.51||6.27 %||Jan 01|
|Exchange Rate||0.97||-0.54 %||Jan 01|
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Switzerland Economic News
May 4, 2022
Consumer prices increased 0.37% over the previous month in April, following March's 0.57% rise.
May 2, 2022
The Credit Suisse/procure.ch Manufacturing Purchasing Managers' Index (PMI) came in at 62.5 in April, down from March's 64.0.
April 29, 2022
The KOF Economic Barometer rose to 101.7 in April from March's 99.2.
Switzerland: Retail sales record largest decline in over one year in March, but underlying momentum is solid
April 29, 2022
Retail sales dived 6.6% year-on-year in calendar-adjusted terms in March, which contrasted February's 12.5% increase.
April 1, 2022
The Credit Suisse/procure.ch Manufacturing Purchasing Managers' Index (PMI) rose to 64.0 in March from February's 62.6.