Switzerland’s State Secretariat for Economic Affairs (SECO) has raised the country’s growth forecasts for this year, as the easing of coronavirus restrictions boosts confidence in the recovery.
Key takeaways
Sees 2021 GDP (sport event adj) growth at +3.6% (previous forecast was +3.0%).
Sees 2022 GDP (sport event adj) growth at +3.3% (previous forecast was +3.3%).
Sees 2021 CPI at +0.4% (previous forecast was +0.4%).
Sees 2022 CPI at +0.5% (previous forecast was +0.4%).
Sees strong recovery following the easing of coronavirus measures.
The expert group expects Switzerland’s GDP to grow significantly in Q2 of this year.
USD/CHF reaction
The Swiss franc accelerated gains on the upward revision to the growth forecasts, knocking off USD/CHF to daily lows of 0.8979, down 0.19% on the day.
