Switzerland’s economic growth in 2024 will be “considerably” below average – SECO

In its June economic forecast, Switzerland’s State Secretariat for Economic Affairs (SECO) stated that “The Swiss government continues to expect that economic growth in Switzerland in 2024 will be considerably below average.”

Supplementary food

The Swiss government sees GDP growth in 2024 (adjusted for sporting events) at +1.2% (previous forecast was +1.2%).

The Swiss government sees GDP growth in 2025 (adjusted for sporting events) at +1.6% (previous forecast was +1.7%).

The Swiss government sees CPI 2024 at +1.2% (previous forecast was +1.4%).

The Swiss government sees CPI 2025 at +0.7% (previous forecast was +1.1%).

The Swiss government expects a moderate acceleration in growth for 2025 as global economic conditions gradually improve.

Market reaction

Despite the discouraging assessment, USD/CHF is down 0.08% today, trading around 0.8455.