Tag Archives: Swiss growth forecast

Swiss growth was disappointing at the end of 2016 and in the first half of 2017. Consequently, GDP growth this year is likely to be just 1.0%, its lowest level since 2012. However, a wide set of statistics are already painting a considerably more positive picture of strengthening growth as we approach the end of 2017. Of particular note is the increasing contribution of manufacturing to real GDP growth. Switzerland’s...

Leading indicators are running at multi-year highs, suggesting that underlying momentum is strengthening and becoming more broadly based. Owing to weak GDP momentum in late 2016 and the first half of the year, the Swiss economy is likely to see relatively weak growth in 2017. Part of the weakness in GDP figures was due to specific factors. However, leading indicators, notably consumer confidence, manufacturing PMI and the KoF economic indicator are...

The SNB is unlikely to pre-empt the European Central Bank in hiking rates. Currency intervention will remain the SNB’s policy tool of choice in the case of renewed strengthening of the Swiss franc.At its June meeting, the Swiss National Bank (SNB) left its accommodative monetary policy unchanged. The interest rate on sight deposits was maintained at a record low of -0.75% and the SNB reiterated its willingness to intervene in the foreign exchange market if needed. Our baseline scenario...