Financial News: Swiss Govt Lowers Growth Outlook

Swiss Govt Lowers Growth Outlook

03/18/2025 - 05:17:00 (RTTNews)

(RTTNews) - Switzerland's economy is projected to grow less than previously projected as some negative effects from escalating trade wars are anticipated, the State Secretariat for Economic Affairs, or SECO, said Tuesday. Gross domestic product will grow 1.4 percent this year, followed by 1.6 percent expansion in 2026, the Spring Forecast showed.

This would mean the economy would continue to grow below its historical average for another two years, the SECO said. Previously, the economy was projected to expand 1.5 percent this year and 1.7 percent in 2026.

The expert group of SECO said the rest of Europe will gradually recover from the current economic downturn in 2026. This will underpin Swiss exports and investment next year.

The current forecast assumed that there will be no escalating global trade war. "Nevertheless, some negative effects are to be expected," said SECO.

The unemployment rate is forecast to average 2.8 percent both this year and next, which was up from the previous outlook of 2.7 percent for 2025 and 2026.

Further, the SECO retained its inflation forecast for 2025 at 0.3 percent. Meanwhile, the outlook for next year was lowered to 0.6 percent from 0.7 percent.

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