SECO: Swiss Govt lowers 2017 GDP forecast to 1.6% vs 1.8% prev

The Swiss State Secretariat for Economic Affairs (SECO) came out with their latest forecasts on Swiss economic growth and inflation outlook in the coming years.

Key Points:

2018 GDP unchanged at 1.9%

2017 inflation forecast +0.5% vs 0.0% previous

2018 inflation +0.3% vs +0.2%

SECO cites that the 2017 downward revision is due to a sluggish end to 2016 but "expected to step up significantly over the coming quarters."

Swiss economy "will continue to recover at a solid albeit not exceptionally strong rate."