Higher Growth Forecast for 2010 – Bleak Export Prospects Lower Forecast for 2011
Bern, 16.9.2010 - Higher Growth Forecast for 2010 – Bleak Export Prospects Lower Forecast for 2011 Economic Outlook and Forecasts of the Federal Government’s Expert Group on Economic Forecasts – Fall 2010*. As a consequence of the lively economic revival up to the middle of the year in Switzerland, the expert group has increased the federal government’s growth forecast for 2010 to 2,7% (previously 1.8%). The prospects for 2011 are less positive than recently assumed, due to modest world economic prospects as well as higher valuation of the Swiss franc producing significant drag and having a negative influence on Swiss export growth. Based on estimates from the expert group, the economic recovery in Switzerland will not completely cease in 2011 but with forecast GDP growth of 1,2% it will be significantly slower than in 2010.