Strengthening of Swiss Franc Burdens Swiss Economic Outlook
Bern, 14.6.2011 - Economic Trends and Outlook from the Federal Government’s Expert Group on Economic Forecasts - Summer 2011*. In spite of some early signs of slowdown, economic growth in Switzerland has been solid so far this year. However, the currency appreciation, which already represented a burden on Swiss exports during the last few months, has jumped even higher over the last few weeks. With the recent added strength to the Swiss Franc, new risks have emerged. The Expert Group of the Confederation now assumes that economic growth in Switzerland will continue to slow despite robust domestic demand, particularly in the construction sector. The Expert group forecasts GDP growth of 2.1% for 2011 and 1.5% for 2012 with the slowdown in growth predicted slightly increase in the unemployment rate by 2012.