SECO – Modest GDP growth expected for Switzerland June 16, 2016 at 01:47AM

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SECO – Modest GDP growth expected for Switzerland
Bern, 16.06.2016 – Economic forecasts by the Federal Government’s Expert Group – Summer 2016* – The economies of industrialised nations are currently growing at a moderate rate. While the United States saw only weak GDP growth in the first quarter, the Euro area’s growth was a pleasant surprise. Growth projections in emerging countries for 2016 are revised downward for the fifth time in a row. A range of economic indicators suggests that the global economy will develop fairly positively this year and next. The risk of a persistently negative price trend reduced slightly over the past few months in various countries. In this positive yet fragile environment, the Swiss economy is set to grow by an average of 1.4% in 2016; real growth of 1.8% is forecast for 2017. Over the coming months, unemployment will rise marginally once again (average for 2016: 3.6%, 2017: 3.5%), while a small increase in employment is expected (+0.4% on average) by the end of the year. There are therefore no major changes to forecasts for GDP and the labour market between March and June 2016.
State Secretariat for Economic Affairs

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