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Switzerland - Economy

Whitaker's Almanack Version

Financial Outlook

The economy should show growth of 1.5–2.0% in 2013 and 2% in 2014, according to the Swiss central bank’s quarterly publication published in January 2014. The economy may gain momentum in the first half of 2014, a forward-looking survey of the country’s economic mood showed in January 2014, lifted by a recovery in industry, domestic consumption, and exports to the European Union. The KOF economic barometer published by the Swiss Economic Institute, which indicates the performance of the economy about six months ahead, rose for the ninth consecutive month to 1.95 points in December 2013 from 1.85 in November. The central bank expects an inflation rate of –0.2% in 2013 and of 0.2% and 0.6% in 2014 and 2015, respectively. Consequently, the bank says that it sees inflation risks in the foreseeable future. The bank is concerned about the possibility of an overheating housing market, saying that in “an environment of persistently low interest rates, the danger of a further build-up of imbalances on mortgage and real estate markets remains considerable.” In December 2013 the unemployment rate remained unchanged from the previous month at 3.20%.

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Further reading on Switzerland


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