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Economic growth revised upwards

National News // Sept. 21, 2018

The government is upping its growth rate for this year. The Swiss Expert Group says GDP growth in 2018 will be 2.9% - up from the 2.4% its previously predicted.

pixabay Economic growth revised upwards

It says strong international growth is helping exports and industry is operating at a capacity not seen since 2011 and firms are expecting to hire more staff.

The franc’s exchange rate is also far more favorable and the group is expecting a rise in real wages.

But they are warning there are risks. The group says a trade war being fought by the US could drag down growth and political uncertainty in Europe is also a danger.

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