Switzerland Economic Forecast

Switzerland Economic Outlook

September 26, 2017

Recently released data for Q3 paints a mixed picture of the economy’s performance. On the downside, retail sales contracted in July, signaling a downturn in private consumption amid weak employment growth. Driven by downbeat perceptions about domestic firms’ competitiveness, economic sentiment dampened in August, undershooting market expectations. On the upside, a weaker franc sustained a strong pace of expansion in the manufacturing sector, propelling the manufacturing PMI to a multi-year high in August. A weak start to the year prompted the government on 21 September to cut its growth projection for 2017 to 0.9%, down from 1.4%. Economic growth in Q2 dropped to the lowest level in annual terms since Q4 2009, despite a marginal improvement in the pace of economic expansion in quarter-on-quarter, seasonally-adjusted terms. On the flip side, the government raised its growth estimate for 2018 up a notch, from 1.9% to 2.0%.

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Switzerland Facts

ValueChangeDate
Bond Yield-0.0651.07 %Oct 16
Exchange Rate0.980.10 %Oct 16
Stock Market9,275-0.40 %Oct 16

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Switzerland Economic Growth

September 26, 2017

The economy is expected to pick up as a weaker franc translates into an improved export performance and higher investment. Resilient external demand from European trading partners should support stronger growth into next year. Downside risks remain, however, from the ongoing uncertainty unleashed by the rejection of Corporate Tax Reform III. The FocusEconomics panel expects GDP growth of 1.1% in 2017 and projects growth accelerating to 1.7% in 2018, which is unchanged from last month’s forecast.

Switzerland Economic News

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