Switzerland Economic Outlook
September 1, 2020After an already-sharp decline in Q1, recent data shows that the economy shrank at a historic pace in Q2, depressed by plunging private consumption, investment and exports due to lockdown measures at home and abroad. More positively, economic dynamics improved towards the end of Q2 as restrictions were lifted, and this momentum looks to have carried over into Q3: In July, both the manufacturing and services PMIs rose amid stronger output, while the KOF barometer surged in both July and August on improved readings for most sectors. However, a recent spike in cases has led some cantons to reintroduce limited restrictions. This trend could dampen the rebound in activity if it continues.
Switzerland Economic GrowthThis year, the economy is projected to contract sharply as constrained private consumption and tumbling fixed investment weigh on domestic demand. A strong uptick in public spending should temper the downturn, although prolonged tepid international demand and the domestic surge in coronavirus cases pose downside risks. FocusEconomics panelists project GDP to contract 6.0% in 2020, which is up 0.1 percentage points from last month’s forecast, and to grow 4.8% in 2021.
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
September 3, 2020
Consumer prices increased 0.04% in August over the previous month, contrasting the 0.16% drop seen in July.
September 2, 2020
Retail sales rose 4.1% in annual terms in July, which was above June's 3.3% increase.
September 1, 2020
The manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch rose from 49.2 in July to 51.8 in August.
August 28, 2020
The KOF economic barometer—a leading composite indicator for the Swiss economy—rose to 110.2 in August from 86.0 in July, marking the third consecutive monthly improvement.
August 27, 2020
GDP fell at a quicker pace in the second quarter, contracting a record 8.2% on a seasonally-adjusted quarter-on-quarter basis (Q1: -2.5% s.a.