FOREX TradingCharts.com

Financial News: Swiss Experts Cut 2021 Growth Forecast On Covid-19

Swiss Experts Cut 2021 Growth Forecast On Covid-19 Resurgence

12/15/2020 - 03:13:00 (RTTNews)

(RTTNews) - The Swiss economy is set to shrink less than expected this year, but the recovery next year would be slower than forecast earlier, due to the adverse effect from the second wave of the coronavirus pandemic and lockdown measures, the State Secretariat For Economic Affairs, or SECO, said Tuesday.

Gross domestic product is set to fall a seasonally and calendar adjusted 3.3 percent this year, which is slightly less than the 3.8 percent decline projected in October. Yet, this would be the strongest decrease since 1975.

The growth forecast for next year was lowered to 3 percent from 3.8 percent. The Swiss economy is projected to grow 3.1 percent in 2022. "If the health situation eases, growth is likely to increase significantly as time goes on, although uncertainty remains extremely high," the SECO said.

Experts slashed the growth forecasts for next year for personal consumption, exports and imports. The unemployment rate is projected to climb to 3.3 percent next year from 3.2 percent this year. Thereafter, it is seen easing to 3 percent in 2022. Consumer prices are forecast to fall 0.7 percent this year and edge up 0.1 percent next year. Inflation is projected at 0.3 percent in the year after.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Existing Home Sales Unexpectedly Climb 0.7% In December (28 min(s), 52 sec(s) ago)
(RTTNews) - Existing home sales in the U.S. unexpectedly rebounded in the month of December, accor ...Full Story»

UK Budget Deficit Surges On Covid-19 Support Schemes (01 hr(s), 59 min(s), 08 sec(s) ago)
(RTTNews) - The UK budget deficit surged to the third highest level on record in December as the g ...Full Story»

Italy Construction Output Grows In November (02 hr(s), 32 min(s), 08 sec(s) ago)
(RTTNews) - Italy's construction output rose for the first time in three months in November, d ...Full Story»

Eurozone Private Sector Activity Decline Deepens In January (02 hr(s), 56 min(s), 08 sec(s) ago)
(RTTNews) - Amid the ongoing Covid-19 pandemic, euro area private sector activity contracted at an ...Full Story»

Taiwan Jobless Rate Falls In December (03 hr(s), 12 min(s), 08 sec(s) ago)
(RTTNews) - Taiwan's jobless rate fell marginally in December, figures from the Directorate Ge ...Full Story»

Ireland Wholesale Prices Fall Further (03 hr(s), 13 min(s), 08 sec(s) ago)
(RTTNews) - Ireland's wholesale prices declined further in December, data from the Central Sta ...Full Story»

Latvia Producer Prices Decline Slows In December (03 hr(s), 19 min(s), 08 sec(s) ago)
(RTTNews) - Latvia's producer prices declined December, albeit at a softer pace, figures from ...Full Story»

Poland Producer Prices Steady In December (03 hr(s), 21 min(s), 08 sec(s) ago)
(RTTNews) - Poland's producer prices remained stable in December, data from Statistics Poland ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Existing Home Sales Unexpectedly Climb 0.7% In December

01/22/2021 - 10:27 AM (RTTNews)
(RTTNews) - Existing home sales in the U.S. unexpectedly rebounded in the month of December, accor ...Full Story>>

UK Budget Deficit Surges On Covid-19 Support Schemes

01/22/2021 - 07:59 AM (RTTNews)
(RTTNews) - The UK budget deficit surged to the third highest level on record in December as the g ...Full Story>>

Italy Construction Output Grows In November

01/22/2021 - 07:26 AM (RTTNews)
(RTTNews) - Italy's construction output rose for the first time in three months in November, d ...Full Story>>

Eurozone Private Sector Activity Decline Deepens In January

01/22/2021 - 07:02 AM (RTTNews)
(RTTNews) - Amid the ongoing Covid-19 pandemic, euro area private sector activity contracted at an ...Full Story>>

Taiwan Jobless Rate Falls In December

01/22/2021 - 06:46 AM (RTTNews)
(RTTNews) - Taiwan's jobless rate fell marginally in December, figures from the Directorate Ge ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.