(Bloomberg) The Swiss government lowered its outlook for economic growth this year, citing headwinds such as the global logistics logjam and the slow resumption of intercontinental travel. Gross domestic product is forecast to expand 3.4% this year, down from a previous forecast of 3.8%, the State Secretariat for Economic Affairs said on Thursday. The inflation rate is set to remain low, averaging just 0.5% in 2021. “Capacity bottlenecks are currently limiting the growth of global industrial production, which leads to price increases, and the services sector is hampered by stricter coronavirus measures in some countries,” the SECO said in a statement. “However, provided that severely restrictive measures such as business lockdowns are not imposed in the coming months, the economic recovery should continue uninterrupted.” The Swiss economy has bounced back from lockdowns more quickly than even neighboring Germany, with the Swiss National Bank’s ultra-loose monetary policy da
BRUSSELS (dpa-AFX) - The Swiss economy is expected to expand at a faster pace next year after losing the momentum temporarily this year, the State Secretariat for Economic Affairs, or SECO, said
Switzerland's economy is expected to grow by 3.2% this year, the government said on Thursday, lowering its full year outlook as a less sunny global picture limited Switzerland's recovery.