Painful adaptation of the economy to the strong Swiss franc
Bern, 16.6.2015 - Economic forecasts from the Federal Government’s Expert Group – Summer 2015* - The economic slowdown of the Swiss economy was confirmed at the beginning of the year. GDP at constant prices fell by -0.2% during the first quarter and several economic indicators have contracted considerably since February of this year. Foreign trade (contribution of the trade balance) is expected to have a negative impact on growth in Switzerland throughout 2015 as a whole. In light of the steady, albeit weak, economic recovery in Europe and the continued positive expansion of domestic demand in Switzerland, the Federal Government’s Expert Group predicts that Swiss GDP will grow by 0.8% in 2015 (revised from 0.9% forecast in March). An improvement of the situation is expected for 2016 with GDP growth of 1.6% (revised down from 1.8% forecast in March). Since February, the number of unemployed persons in Switzerland has once again risen with the annual average rate of unemployment forecast to reach 3.3% in 2015 and 3.5% in 2016.