In early 2024, Switzerland’s GDP continued a moderate growth, mostly due to the service economy. Most conjunctural indicators have stabilised in recent months. The Swiss federal government’s Expert Group on Economic Forecasts therefore expects, in its latest forecast, growth for the Swiss economy in 2024 to be similar to 2023; i.e., a GDP growth rate of 1.2%, which is still significantly under average.

Such growth will mostly be due to consumption, which, in return, is supported by a continuously solid labour market and a lower inflation rate than in 2023. The expert group estimates inflation to be 1.4% on average in 2024 and just recently the Swiss National Bank has cut its key policy rate by 25 basis points to 1.25%, which shows conf…

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