20
Sep
A stronger euro will bolster GDP growth in Switzerland
Real GDP up +0.3% in Q2. The SECO and the SNB revise their growth forecasts downward. Nevertheless, the likelihood of an upturn is enhanced by the appreciation of the euro.
Key points
- Real GDP up +0.3% in Q2
- A stronger euro promises further GDP growth
- Final demand bolsters GDP growth
- The trade balance is not yet benefitting from the weaker franc or the European recovery
- Green light for public and private consumption
- Increasingly positive leading indicators for the manufacturing and industrial sectors
- The appreciation of the euro has not yet significantly affected the SNB’s actions
- Our 15 January 2015 post-choc forecast predicting an exchange rate of 1.20 against the euro is materialising
- Impending rise of long-term interest rates and inflation in our country
