"The latest economic surveys indicate a more positive mood on a broad front over recent months"
- Economists at the State Secretariat for Economics
Benefiting from signs of a global recovery and upbeat sentiment on global financial markets, Swiss economy is now expected to grow more than initially was expected. According to the State Secretariat for Economics (SECO), Swiss gross domestic product will grow by 1.3% this year, while projection for 2014 was raised to 2.1% from 2% growth it expected in December. Consumer prices, however, are predicted to grow only by 0.1% in 2013, down from a prediction of 0.2% made in December. The data also showed that due to the continuing stability in the domestic economy and a brighter outlook for exports, the opportunity for further increase in growth projection during the course of this and next year increased. Earlier this month, the Swiss National Bank pledged its readiness to continue defending a 1.20 cap in order to prevent deflation and a recession in the country.
"The latest economic surveys indicate a more positive mood on a broad front over recent months," economists at the State Secretariat for Economics (SECO) said.
"In view of the continuing stability in the domestic economy and a brighter outlook for exports, the opportunities for a further increase in economic growth during the course of this and next year look good."
© Dukascopy Bank SA