Switzerland Economic Outlook
June 26, 2018Comprehensive data confirmed that the economy started the year on strong footing, with healthy quarter-on-quarter GDP growth in Q1. Higher wages, muted inflation and low unemployment supported an acceleration in private consumption growth, while fixed investment rebounded sharply. The latest data suggests that the solid momentum likely carried over into the second quarter: Retail sales in April recorded the sharpest annual increase in over a year, and the unemployment rate declined to a new multi-year low in May. Although the manufacturing PMI declined somewhat in May, it remained elevated, pointing to the good health of the sector. On the political scene, the 11 June referendum proposal to change the current fractional reserve banking system to a sovereign money system was soundly defeated, with over 75% of voters rejecting the measure. The outcome dissipated fears of drastic and unexpected consequences in the country’s banking sector.
Switzerland Economic GrowthThe economy is expected to grow at a fast pace this year as a tight labor market and favorable credit conditions support growth in the domestic economy. In addition, export-oriented industries should benefit from a weaker currency. Nevertheless, heightened geopolitical tensions and growing prospects of a global trade war could cause the currency to appreciate due to its safe haven status, dampening growth prospects. Met the why particular panelists expect GDP growth of 2.2% this year, up 0.1 percentage points from last month’s forecast, and 1.7% next year.
Switzerland Economy Data
5 years of Switzerland economic forecasts for more than 30 economic indicators.
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|Bond Yield||-0.04||6.27 %||Jul 17|
|Exchange Rate||1.00||-0.54 %||Jul 17|
|Stock Market||8,825||-0.82 %||Jul 17|
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Switzerland Economic News
June 21, 2018
On 21 June, the Swiss National Bank (SNB) met market expectations and held the target range for the three-month Libor unchanged at between minus 1.25% and minus 0.25%.
June 6, 2018
Consumer prices rose 0.4% on a month-on-month basis in May, coming in above April’s 0.2% increase.
May 31, 2018
The economy of Switzerland started the year on strong footing.
May 30, 2018
In May, the KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—dropped from a revised 113.3 points in April (previously reported: 115.3 points) to the series’ long-run average of 110 points in May.
May 25, 2018
The Swiss electorate will vote on 11 June on a radical proposal, known as the sovereign money initiative (Vollgeld), to overhaul the country’s banking and monetary systems.