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European slowdown to hit Switzerland

National News // Nov. 5, 2019

Economic forecasters are predicting Switzerland will not escape the negative effects of a general European slowdown and international trade tensions.

Pixabay European slowdown to hit Switzerland

The OECD says it expects the economy will grow by 0.8% this year, down from its initial assessment of 1%.

But it says Switzerland will be better protected from negative international trends due to its high wages and low unemployment.

The organization is also recommending the retirement age should be raised to reflect longer life expectancy. Currently men retire at 65 and women at 64. It suggests the age should be 67 for both sexes.

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