In its June economic forecasts, Switzerland’s State Secretariat for Economic Affairs (SECO) said that the “Swiss government continues to expect Switzerland’s economic growth in 2024 to be considerably below average.”
Additional takeaways
Swiss government sees 2024 GDP (sport event adjusted) growth at +1.2% (previous forecast was +1.2%).
Swiss government sees 2025 GDP (sport event adjusted) growth at +1.6% (previous forecast was +1.7%).
Swiss government sees 2024 CPI at +1.2% (previous forecast was +1.4%).
Swiss government sees 2025 CPI at +0.7% (previous forecast was +1.1%).
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% on the day, trading at around 0.8455.