Switzerland Economic Outlook
December 23, 2021Economic growth slowed only slightly in Q3, although the headline reading was flattered by changes in inventories and statistical discrepancies. Underlying momentum was more subdued, amid a slowdown in private consumption and contractions in public spending, fixed investment and exports. Turning to Q4, available signs suggest that the economy has lost steam amid supply constraints, higher input prices and rising Covid-19 cases: The manufacturing PMI, services PMI and KOF Economic Barometer all fell through November. Moreover, in mid-December the federal government announced a tightening of restrictions to tame the advance of Omicron. Unvaccinated people are now barred from most public venues and citizens must work from home whenever possible, which has likely weighed on activity towards the end of the year.
Switzerland Economic GrowthGrowth is seen easing in 2022, largely due to softer government consumption as pandemic-related spending demands fade. However, momentum should remain healthy nonetheless, supported by a strong labor market spurring private consumption. Covid-19 variants, and the gradual fraying of trade links with the EU in the absence of a revamped trade deal, cloud the outlook. FocusEconomics Consensus Forecast panelists project the economy to expand 3.0% in 2022, which is unchanged from the previous month’s forecast. In 2023, the panel expects GDP to grow 1.9%.
Switzerland Economy Data
5 years of Switzerland economic forecasts for more than 30 economic indicators.
Get a sample report showing our regional, country and commodities data and analysis.
|Bond Yield||-0.51||6.27 %||Jan 01|
|Exchange Rate||0.97||-0.54 %||Jan 01|
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Switzerland Economic News
January 7, 2022
Retail sales expanded 5.8% year-on-year in calendar-adjusted terms in November, which was above October's 2.2% increase.
January 4, 2022
Consumer prices dropped 0.10% from the previous month in December, contrasting the 0.04% rise recorded in November.
January 3, 2022
The Credit Suisse/procure.ch Manufacturing Purchasing Managers' Index (PMI) rose to 62.7 in December from November's 62.5.
Switzerland: KOF Economic Barometer records worst reading since February in December, but remains fairly upbeat
December 31, 2021
The KOF Economic Barometer came in at 107.0 in December, down from November's 107.5.
December 16, 2021
At its meeting on 16 December, the Swiss National Bank (SNB) left its policy rate and the interest rate on sight deposits at minus 0.75%—the world’s lowest.