Switzerland Economic Outlook
October 27, 2020The economy appeared to recover robustly in Q3 from Q2’s downturn as restrictions on activity at home were lifted. The KOF Economic Barometer hit a ten-year high in September amid positive signs from the manufacturing and hospitality sectors. Moreover, both the manufacturing and services PMIs rose throughout the quarter, and retail sales were solid in July and August. However, the recovery could be slowing heading into Q4. External demand is likely suffering from fresh lockdown measures abroad, and the federal government limited public gatherings in mid-October amid a surge in new Covid-19 cases. Moreover, although domestic restrictions remain laxer than in many European neighbors, stricter measures could be on the way, while the second wave of cases could dampen consumer confidence and domestic demand.
Switzerland Economic GrowthFollowing a likely sharp contraction in 2020, the economy is set to expand strongly next year as external demand recovers. However, the uncertain evolution of the virus and tense relations with the EU due to disagreements over the renegotiation of the trading relationship pose downside risks. FocusEconomics Consensus Forecast panelists expect the economy to expand 4.0% in 2021, which is down 0.3 percentage points from last month’s forecast. In 2022, the panel expects GDP to expand 2.6%.
Switzerland Economy Data
5 years of Switzerland economic forecasts for more than 30 economic indicators.
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|Bond Yield||-0.51||6.27 %||Jan 01|
|Exchange Rate||0.97||-0.54 %||Jan 01|
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Switzerland Economic News
February 12, 2021
Consumer prices increased 0.06% over the previous month in January, contrasting December's 0.10% drop.
February 1, 2021
Retail sales rose 4.7% year-on-year in calendar-adjusted terms in December, which was above November's 1.8% increase.
February 1, 2021
The manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch rose from 57.3 in December to 59.4 in January, the highest reading in over two years and moving further above the 50-threshold signaling expansion in the manufacturing sector.
January 29, 2021
The KOF Economic Barometer—a leading composite indicator for the Swiss economy—fell from 104.1 in December to 96.5 in January, moving below the long-term average of 100.
January 7, 2021
Retail sales expanded 1.7% year-on-year in calendar-adjusted terms in November (October: +4.3%).