Switzerland Economic Outlook
September 26, 2017Recently released data for Q3 paints a mixed picture of the economy’s performance. On the downside, retail sales contracted in July, signaling a downturn in private consumption amid weak employment growth. Driven by downbeat perceptions about domestic firms’ competitiveness, economic sentiment dampened in August, undershooting market expectations. On the upside, a weaker franc sustained a strong pace of expansion in the manufacturing sector, propelling the manufacturing PMI to a multi-year high in August. A weak start to the year prompted the government on 21 September to cut its growth projection for 2017 to 0.9%, down from 1.4%. Economic growth in Q2 dropped to the lowest level in annual terms since Q4 2009, despite a marginal improvement in the pace of economic expansion in quarter-on-quarter, seasonally-adjusted terms. On the flip side, the government raised its growth estimate for 2018 up a notch, from 1.9% to 2.0%.
Switzerland Economy Data
5 years of Switzerland economic forecasts for more than 30 economic indicators.
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|Bond Yield||-0.04||67.17 %||Oct 13|
|Exchange Rate||0.97||-0.09 %||Oct 13|
|Stock Market||9,312||0.15 %||Oct 13|
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Switzerland Economic Growth
September 26, 2017The economy is expected to pick up as a weaker franc translates into an improved export performance and higher investment. Resilient external demand from European trading partners should support stronger growth into next year. Downside risks remain, however, from the ongoing uncertainty unleashed by the rejection of Corporate Tax Reform III. The Met the why particular panel expects GDP growth of 1.1% in 2017 and projects growth accelerating to 1.7% in 2018, which is unchanged from last month’s forecast.
Switzerland Economic News
September 14, 2017
On 14 September, the Swiss National Bank (SNB) decided to hold the target range for the three-month Libor steady at between minus 1.25% and minus 0.25%, in line with market expectations.
September 5, 2017
In August, consumer prices recorded a flat reading after a 0.3% decline in July.
September 5, 2017
Switzerland’s economy recorded a slight improvement in Q2: GDP growth edged up to 0.3% in quarter-on-quarter, seasonally-adjusted terms, over Q1’s revised 0.1% increase (previously reported: +0.3% quarter-on-quarter).
September 1, 2017
The manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch increased to an over six-year high of 61.2 points in August from 60.9 points in July.
August 30, 2017
The KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—declined in August to 114.1, down from an upward-revised 118.0 in July (previously reported: 116.8).