13
Mar
Has the year-end panic already given way to euphoria?
GDP growth resumes at modest pace in Q4 (+0.2%). Interest rate trends once again atypical. New records for Swiss equities and securitised real estate.
Key points
- Growth resumes in Q4 2018
- Swiss GDP expansion of +0.2% and +2.5% (yoy)
- The SECO reduced its forecast for 2019 to +1.1%
- The manufacturing sector is the main driver of growth
- Improved outlook for Q2 2019
- Leading indicators remain uncertain
- Consumption will likely also bolster GDP
- Stabilisation of the Swiss franc favourable to Switzerland’s foreign trade
- Long-term interest rate trends once again atypical
- Panic gives way to euphoria
- New record for Swiss equities
- New record for securitised real estate
- We recommend reducing risk
