Switzerland's economic growth in 2024 to be ‘considerably’ below average – SECO

Dhwani Mehta FXStreet

In its June economic forecasts, Switzerland’s State Secretariat for Economic Affairs (SECO) said that the “Swiss government continues to expect Switzerland's economic growth in 2024 to be considerably below average.”

Additional takeaways

Swiss government sees 2024 GDP (sport event adjusted) growth at +1.2% (previous forecast was +1.2%).

Swiss government sees 2025 GDP (sport event adjusted) growth at +1.6% (previous forecast was +1.7%).

Swiss government sees 2024 CPI at +1.2% (previous forecast was +1.4%).

Swiss government sees 2025 CPI at +0.7% (previous forecast was +1.1%).

Swiss government expects a moderate acceleration in growth for 2025, as global economic conditions gradually improve.

Market reaction

Despite the discouraging assessment, USD/CHF is down 0.08% on the day, trading at around 0.8455.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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