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Modest acceleration of Swiss GDP expected
Economic forecasts by the Federal Government's Expert Group. After displaying positive development over several quarters, Switzerland's GDP nearly stagnated in the third quarter of 2016. However, preliminary indicators now point to a renewed pick-up in growth, and the global economy is expected to continue generating momentum.
The Expert Group therefore maintains its previous assessment and anticipates a GDP growth of 1.5% for full-year 2016. It expects to see a modest acceleration of GDP growth to 1.8% in 2017 and 1.9% in 2018, driven by both domestic demand and foreign trade. As the recovery continues, the unemployment rate will likely decline gradually from 3.3% (2016) to 3.2% (2017), and then to 3.1% (2018). The economic outlook thus remains positive, even if the "Swiss franc shock" will likely continue to have some impact on the economy.
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