Swiss economy: between a rising domestic demand and subdued exports

Economic forecasts from the Federal Government’s Expert Group – Summer 2013
Despite the ongoing recession in the Euro zone, the Swiss economy continued to perform relatively well in the beginning of 2013. There is however still an imbalance between a robust domestic demand and subdued exports. This pattern of economic activity is likely to continue during the further course of the year. Growth dynamic should remain moderate overall and unemployment should continue to rise slightly. The Expert Group essentially reaffirms in June its assessment of a slow economic growth in 2013, with a GDP increase of 1.4%, a forecast mostly unchanged from last March. For 2014 it expects a broadly based economic recovery, extending to exports and the labour market (GDP-forecast: +2.1%). This does however assume a recovery in the global economy and, in particular, that the Euro zone will finally move out of recession, which is currently still surrounded by considerable uncertainty.