Switzerland

RGE's Q1 2010 Switzerland Outlook

Following four quarters of negative growth, the Swiss economy emerged from recession in Q3 2009, posting 0.3% q/q growth on the back of robust private and public consumption, rebounding exports and resilient building investment. Due to the absence of major imbalances in the economy, Switzerland experienced a relatively mild recession compared to other industrialized countries. However, in Q3 2009 Swiss GDP was still 1.3% y/y below the previous year’s level. In the coming months, the external and financial sectors are likely to gain in importance, while private consumption and construction activity are set to become more subdued after largely stabilizing the economy in 2009. The current rebound in economic activity is not yet strong enough to eliminate substantial excess capacity, and as a result unemployment will pick up significantly. Fading stimulus packages, accelerating inflation and ongoing global structural problems will further limit...

Read the Q1 2010 Switzerland Outlook.