Slowdown in economic growth
Bern, 18.9.2012 - Economic forecasts from the Federal Government’s Expert Group - autumn 2012*. The international economic slowdown has also reached Switzerland. In view of the weak global economic conditions the Federal Government’s Expert Group expects dampened economic activity to continue over the coming quarters. Furthermore, a small rise in unemployment is expected. However, the Group does not foresee a marked recession in Switzerland thanks to the robust domestic economy and the exchange rate floor against the Euro. The latter created stability for the export industry. GDP for 2012 is forecast to grow by 1.0%, with a slight pickup to 1.4% for 2013, contingent upon there being a recovery in the global economy. The latest decisions taken by the ECB have reduced the risks of a further escalation in the sovereign debt crisis within the Euro region, however these risks still remain.