Switzerland Economic Outlook
February 26, 2019
While official national accounts data has yet to released, growth should have recovered in the fourth quarter. The rebound could be short-lived, however, as data for Q1 suggests weaker global demand and a sluggish Euro-area are starting to take a toll on the export-oriented economy. The KOF economic barometer fell again in January, hampered by falling confidence in the manufacturing and services sectors, and drearier export prospects. Moreover, the manufacturing PMI reaffirmed softer dynamics, losing ground in the same month on weaker production and softer hiring activity. A stronger franc due to safe-haven demand could also be weighing on export competitiveness. In other news, Switzerland and the UK signed a trade continuity agreement on 11 February that fortifies the current trade relationship and prevents new tariffs should the UK leave the EU without a deal.Switzerland Economic Growth
The economy is seen slowing this year as headwinds from global trade frictions, more subdued growth in the Euro-area, and negotiations over the institutional framework with the EU weigh on trade and business sentiment. Consumer spending should remain resilient thanks to a tight labor market and accommodative monetary conditions, however. FocusEconomics panelists expect GDP to grow 1.5% this year, which is down 0.1 percentage points from last month’s forecast, and to expand 1.6% in 2020.Switzerland Economy Data
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Switzerland Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | -0.41 | 6.27 % | Mar 20 |
| Exchange Rate | 0.99 | -0.54 % | Mar 20 |
| Stock Market | 9,463 | -0.82 % | Mar 20 |
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Switzerland Economic News
Switzerland: SNB leaves expansionary monetary policy in place in first meeting of 2019
March 21, 2019
At its meeting on 21 March, the Swiss National Bank (SNB) confirmed it would continue maintaining its current expansionary policy stance into 2019.
Switzerland: Inflation remains subdued in February
March 5, 2019
Consumer prices climbed 0.4% over the previous month in February, contrasting the 0.3% decline logged in January.
Switzerland: Retail sales post third consecutive decline in January
March 1, 2019
According to the Swiss Federal Statistics Office, calendar-adjusted real retail sales fell 0.4% over the same month of the prior year in January, descending from December’s revised 0.2% dip (previously reported: -0.3% year-on-year).
Switzerland: Manufacturing PMI rebounds in February, signaling resilience in the sector
March 1, 2019
The manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch rose to 55.4 points in February from 54.3 points in January, coming in a hair above the index’s long-term average of 55.0 points.
Switzerland: KOF economic barometer signals a weakening economy in February
February 28, 2019
The KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—fell to 92.4 points in February from a revised 96.2 points in January (previously reported: 95.0 points).
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