Switzerland’s Economy Expects Moderate Growth in January-March, But Manufacturing Struggles Persist

Swiss economy expected to have improved moderately in first quarter, according to SNB

In the January-March period of 2024, Switzerland’s economy is expected to have performed slightly better than in previous quarters, according to the Swiss National Bank (SNB). This was due to the moderate growth in economic activity during this period, which was driven primarily by the service sector.

Despite this positive outlook, the manufacturing sector continues to struggle with weak global demand and challenges related to the Swiss franc exchange rate. Companies are facing pressure on their margins as they struggle with pricing issues. To address these challenges, the SNB recently cut its key interest rate for the first time in nine years.

However, despite these difficulties, there are signs that the business outlook is improving. Services sector firms are anticipating robust growth to continue, while manufacturing companies are expecting increases in sales. The SNB remains optimistic about Switzerland’s economic prospects and believes that there is still potential for growth in both sectors.

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