Switzerland Economic Outlook
May 28, 2019The latest data suggests the economy has been fairly subdued so far in Q2. In April, the manufacturing PMI deteriorated, likely owing to weak demand from the Eurozone, while the KOF economic barometer moved further below the long-run average. In more positive news from the same month, the services PMI surged, driven by increased client demand, while the unemployment rate was at the joint-lowest level since July 2008. This follows what should have been a fairly robust Q1 expansion. Industrial production was solid in Q1 and the services PMI was strong. Moreover, business confidence edged higher, which likely bodes well for fixed investment. That being said, retail sales ebbed and consumer confidence abated somewhat. In mid-May, the electorate approved a corporate-tax overhaul to ensure Switzerland remains a low tax domicile, while also satisfying international regulations. This will support economic competitiveness going forward.
Switzerland Economic GrowthGrowth this year will likely taper owing to a high base effect and weakening EU demand weighing on exports and investment. Nevertheless, strong private consumption and recently approved corporate-tax legislation should support growth. Meanwhile, U.S.-E.U. trade uncertainty and tense bilateral relations with the EU are downside risks to the outlook. FocusEconomics panelists expect GDP to grow 1.2% this year, which is unchanged from last month’s forecast, and to expand 1.5% in 2020.
Switzerland Economy Data
5 years of Switzerland economic forecasts for more than 30 economic indicators.
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|Bond Yield||-0.55||6.27 %||Jun 13|
|Exchange Rate||0.99||-0.54 %||Jun 13|
|Stock Market||9,862||-0.82 %||Jun 13|
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Switzerland Economic News
June 13, 2019
At its meeting on 13 June, the Swiss National Bank (SNB) maintained its current expansionary policy stance as had been expected by market analysts.
June 3, 2019
Consumer prices rose 0.3% over the prior month in May, up from the 0.2% rise logged in April.
Switzerland: Manufacturing PMI remains mired in contractionary territory in May; services PMI ticks down
June 3, 2019
The manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch inched up to 48.6 points in May from a near four-year low of 48.5 points in April.
May 31, 2019
Calendar-adjusted real retail sales fell 0.7% in annual terms in April, matching March’s decline.
May 29, 2019
The KOF economic barometer—a leading composite indicator for the Swiss economy, which forecasts a six-month period—dropped to 94.4 points in May from 96.2 points in April.