The economy did better than expected last year. Figures from the Federal Statistics Office show last year GDP was up by 2.6% - that’s an upward revision from the previous figure of 2%.
In addition, growth rates from 2020 and 2021 have also been revised upwards.
Much of that was due to a rise in the services sector, like hotels and transport, which were most badly affected by covid.
Economists add that some of the upward growth can be attributed to multinational companies, such as Nestlé and the pharmaceutical sector.
But there remains a level of caution – as previous analysis from the OECD expects the economy to perform below its potential due to inflation and geopolitical pressures.
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