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Swiss growth forecasts downgraded

National News // By Tay Kinnear // May 22, 2019

The Organisation for Economic Cooperation and Development has revised its growth forecasts for Switzerland downwards for the next two years due to a global economic slowdown.  

Pixabay Swiss growth forecasts downgraded

Growth was strong last year, up 2.5 per cent, but the OECD expects a slowdown this year, up just one per cent, down from its forecast last November of 1.6 per cent.

The OECD says that there should be a rise of 1.5 per cent in 2020, as global trade is expected to recover.  

The slowdown in Switzerland is attributed to a lack of skilled workers, particularly in the technical, scientific and computer fields, with the number of unfilled positions continuing to rise. The OECD says that contributory factors also include a decline in immigration and an ageing population. 

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