Forecasters are lowering economic growth projections for Switzerland – all due to anaemic activity in Europe, mainly France and Germany.
The KOF Swiss Economic Institute has adjusted its GDP forecast for next year to show growth at 0.9%, instead of 1.1%.
The government’s own forecasters are making a similar prediction.
The strong franc isn’t helping as it’s hampering exporters.
But resilient consumer demand is propping up the domestic economy.
Inflation is expected to continue to fall, which means analysts are pricing in further interest rate cuts. The next reduction will likely be in March, of at least a quarter of a percent.
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