Tuesday, February 7, 2023

Economiesuisse does not expect a recession

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Although the prospects for the Swiss economy continue to deteriorate, economiesuisse does not expect a recession in the coming year in its latest forecast. (icon picture)

The Swiss gross domestic product (GDP) is likely to achieve weak growth of 0.6 percent in 2023, the association announced on Monday at a media conference. The pillars of growth are private consumption and investments in equipment, while construction, public consumption and foreign trade are likely to have a negative impact on growth.

According to the assessment, the shortage of skilled workers, high energy prices and price increases for upstream services will continue, and the only slowly decreasing supply bottlenecks are also having a negative impact on economic growth. According to a survey by the association, the latter are still a problem for almost half of the companies.

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