Switzerland Economic Outlook
April 30, 2018Available indicators for the first quarter suggest last year’s momentum persisted at the outset of 2018, although survey data in March signaled some recent softness. Manufacturing hit a speedbump in the month as output slowed, dragging on firms’ sentiment. Both the Economic Barometer and the PMI remained, however, comfortably above their long-term averages, hinting that the recent economic upturn still has legs. Furthermore, unemployment ticked down through March, boding well for household spending in the quarter. Meanwhile, exports appeared to signal a recovery, likely benefiting from the further weakening of the franc through March. Recent gains are building on the comeback in economic activity late last year—led by improvements in spending and investment—recently hailed as the end of “Frankenshock,” the malaise that fell over the economy when the Swiss National Bank (SNB) lifted its currency cap three years ago.
Switzerland Economic GrowthBuoyant external demand and a further depreciation of the franc (against the euro) are expected to fuel export-driven growth this year, which should support tighter labor market dynamics and foster greater business investment. Meanwhile, the related rise in real wages should lift household spending. Downside risks to the outlook, while relatively limited, include the possibility of a safe-haven rush into franc-denominated assets—which would send the franc higher and hit the external sector—and continued uncertainty over the future of corporate tax reform. FocusEconomics panelists expect GDP growth of 2.1% this year, unchanged from last month’s forecast, and 1.8% next year.
Switzerland Economy Data
5 years of Switzerland economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.10||6.27 %||May 21|
|Exchange Rate||1.00||-0.54 %||May 21|
|Stock Market||8,940||-0.82 %||May 18|
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Switzerland Economic News
May 7, 2018
Consumer prices rose 0.2% on a month-on-month basis in April, coming in slightly below March’s 0.4% increase.
May 2, 2018
In March, calendar-adjusted real retail sales contracted 1.8% from the same month a year prior, the largest contraction since December 2016 and coming in well below the 0.2% fall recorded in February.
April 30, 2018
In April, the KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—ticked up 0.2 points to 105.3 from a revised 105.1 in March (previously reported: 106.0).
April 5, 2018
Consumer prices rose 0.4% on a monthly basis in March, in line with February’s print.
Switzerland: Manufacturing PMI tumbles in March on weaker output, capacity utilization likely remains high
April 3, 2018
The manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch fell sharply in March to 60.3 points, down from 65.5 in February.