Swiss Economy Stabilizing But Recovery in 2010 Remains Sluggish And Unemployment High
Bern, 22.9.2009 - Economic Tendencies and Forecasts by Expert Group on Economic Forecasts of the Federal Government – Autumn 2009*. The global economy is currently recovering faster than anticipated from the previous strong economic slump. In Switzerland, too, the recession has slowed down in the second quarter, and for the second half of the year, a positive change is underway. For this reason, the expert group of the Federal Government is expecting a weaker decline of the Swiss gross domestic product (GDP) than in June (-1.7% instead of -2.7%). However, it is assumed that the international economy, after its first strong recovery, will run out of steam again in the course of 2010 which will also limit further economic recovery in Switzerland. For 2010, the expert group expects a weak GDP growth (+0.4% instead of -0.4%) and rising unemployment.