ICYMI – Switzerland has slashed financial progress forecasts

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Each the Swiss authorities and the non-public KOF Swiss Financial Institute count on slower progress for the financial system.

  • Switzerland’s State Secretariat for Financial Affairs (SECO) Financial Progress Forecasts:

    • 2023: Swiss financial system projected to develop zero.9% (down from a previous forecast of 1.2%).
    • 2024: Progress forecast revised to 1.5% (beforehand 1.6%).
    • 2026: First forecast predicts 1.7% progress.
    • All forecasts are under Switzerland’s long-term common progress of 1.eight%.
  • Elements Impacting Progress:

    • Slower international demand, significantly from Germany and China, is weighing on exports.
    • Home demand anticipated to drive progress in 2024.
  • Dangers Forward:

    • US commerce coverage, together with tariffs underneath the incoming Trump administration, provides uncertainty.
    • Broader worldwide financial and commerce coverage stays unpredictable.
  • KOF Swiss Financial Institute Forecast:

    • Expects progress of 1.four% in 2025 and 1.7% in 2026.
    • Predicts weak overseas demand till mid-2025, with gradual enchancment thereafter.

This text was written by Aaron Cutchburt at www.ubaidahsan.com.



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