Switzerland Economic Outlook
August 27, 2019Available data paints a mixed picture for the economy in the third quarter. Promisingly, the KOF economic barometer recovered notably in July. However, the manufacturing PMI plummeted to a one-decade low in the same month, while the services PMI dipped into contractionary territory. Moreover, consumers remained very pessimistic about their financial situation in Q3, suggesting household spending could be more subdued. This follows what was likely cooler growth in Q2, amid the downturn in the Eurozone and slowing global trade. In politics, despite the EU’s removal of Switzerland’s stock-exchange equivalence on 1 July, which allowed the trading of Swiss shares in the bloc, volumes in the SIX Swiss stock exchange surged in July. This suggests that the Swiss safeguard measures averted a major disruption in transactions and trading could even weather a prolonged trade dispute between the EU and Switzerland.
Switzerland Economic GrowthEconomic growth is forecast to cool this year, weighed on by weak fixed investment and multiple headwinds, including weaker growth dynamics across Europe, a global trade slowdown and a high base effect. Resilient private consumption should support growth, however. A further deterioration in relations with the EU is a key risk to the outlook. FocusEconomics panelists expect GDP to grow 1.3% this year, which is unchanged from last month’s forecast, and to expand 1.4% in 2020.
Switzerland Economy Data
5 years of Switzerland economic forecasts for more than 30 economic indicators.
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|Bond Yield||-1.04||6.27 %||Sep 04|
|Exchange Rate||0.98||-0.54 %||Sep 04|
|Stock Market||9,895||-0.82 %||Sep 04|
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Switzerland Economic News
September 19, 2019
At its meeting on 19 September, the Swiss National Bank (SNB) maintained its current expansionary policy stance as widely expected by market analysts.
September 5, 2019
The economy grew 0.3% on a seasonally-adjusted quarter-on-quarter basis in the second quarter, slowing from the downwardly revised 0.4% expansion in the first quarter (previously reported: +0.6% quarter-on-quarter).
September 3, 2019
Consumer prices came in flat in August, contrasting the 0.5% drop registered in July.
September 2, 2019
The KOF economic barometer—a leading composite indicator for the Swiss economy, which forecasts a six-month period—was unchanged at July’s revised 97.0 points in August (July previously reported: 97.1 points).
September 2, 2019
The manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch rose to 47.2 in August from 44.7 in July, marking the first uptick in nearly a year.