Sharp upturn in GDP growth. Solid outlook for 2019. Interest rate trends still atypical.
Caution with regard to euphoria in the equity market.
- Sharp increase in GDP in Q1 (+0.6%, +1.7% yoy)
- We maintain a growth outlook of +1.5% for 2019
- Domestic and foreign demand together are
boosting economic momentum in Switzerland
- Outlook still solid for Q2 2019
- Leading indicators no more optimistic in May than
- Low likelihood of Swiss franc appreciating
- Long-term interest rate trends still atypical
- Euphoria in the Swiss equity market
- Temporary correction in securitised real estate