Switzerland Economic Outlook
bet360备用网址March 3, 2020The economy likely expanded at a solid pace in the fourth quarter, although firm data is still outstanding. PMI figures suggest the downturn in the manufacturing sector eased, while the services sector should have grown at a mild rate. However, the unemployment rate averaged higher compared to Q3, which could have dampened household spending. Turning to 2020, early signs are mixed, and hint at another quarter of mild growth. On the one hand, the services PMI improved markedly in January and the KOF economic barometer rose higher in February on improving sentiment in the manufacturing sector. On the other hand, the manufacturing PMI dipped and retail sales declined in January. Weaker foreign demand prospects can likely be linked to the coronavirus outbreak, which has spurred safe-haven demand for the franc, thus hurting export competitiveness.
Switzerland Economic GrowthThe economy should gain some momentum in 2020, underpinned by solid domestic demand and despite soft global growth and the coronavirus weighing on the external sector. A possible resurgence of trade tensions, the uncertain evolution of the coronavirus, strained Swiss-EU relations and potential further currency appreciation cloud the outlook. FocusEconomics panelists project GDP to grow 1.2% in 2020, which is unchanged from last month’s forecast, and 1.3% in 2021.
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Switzerland Economic News
March 4, 2020
bet360备用网址Consumer prices rose 0.1% over the prior month in February, contrasting January’s 0.2% decline.
March 3, 2020
bet360备用网址The economy grew 0.3% on a seasonally-adjusted quarter-on-quarter basis in the fourth quarter of last year, a notch down from the 0.4% expansion in the third quarter, but surpassing market expectations of 0.2% growth.
Switzerland: Downturn in manufacturing sector softens in February; activity in service sector moderates notably
March 2, 2020
bet360备用网址The manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch reached 49.5 in February, up from 47.8 in January and marking the best result in nearly a year.
February 28, 2020
The KOF economic barometer—a leading composite indicator for the Swiss economy—rose to 100.9 points in February from 100.1 points in January.
February 28, 2020
bet360备用网址Calendar-adjusted real retail sales fell 0.1% year-on-year in January, contrasting December’s upwardly revised 0.8% gain (previously reported: +0.1% year-on-year).