Prediction corrected – Seco is less strong economic bruchdie Federal economists give slightly more optimistic and correct their forecast in April. Nevertheless, you can expect the sharpest decline in GDP since 1975. 0 comments

The Coronavirus will hit the Swiss economy hard. The Economists of the Federal government is not to be expected, but with a not so sharp decrease recently.

in Concrete terms, the expert group of the state Secretariat for economic Affairs (Seco) estimates that the real gross domestic product (GDP) will shrink in the current year to 6.2 percent. At the time of their last evaluation in April, it was still a decline of 6.7 percent.

The short-term prospects have brightened, say it in a message to the Seco on Tuesday. Because, thanks to the rapid decline in the Covid-19-the case of the health policy measures could be relaxed figures from the end of April a little faster than in the last forecast.

however, the Federal economists in the current year, the largest decline of GDP for decades. Specifically, it is no longer developed since 1975 so bad.

And in 2021 is expected to recover, the economy only slowly. The forecast is for a growth of 5.3 percent, which is slightly below that of April (+5.6 percent).

The further development depends but is of decisive importance for the development of the pandemic, the Seco. The forecast uncertainty is thus exceptionally high.

The labour market will be left by the crisis are also clear traces, where the forecast fails to be a bit more optimistic: on average for The year 2020 is now expected, the unemployment rate is 3.8% (previously 3.9 per cent), 2021, as such unchanged at 4.1 percent. For comparison: in 2019, the unemployment rate in the year at 2.3 percent.

(SDA /sep)

comments please Log in to comment